State holding company, the National Industrial and Commercial Investments Limited (NICIL) has finalized sale negotiations for the Guyana Marriott Hotel with US investor Ramy El-Batrawi.
Responding to questions from Stabroek News, NICIL CEO Radhakrishna Sharma said yesterday that the business and operations at the hotel would continue in accord with the existing agreement with Marriott International.
“NICIL is selling its shares in Atlantic Hotel Inc. (AHI). The status quo of the business and operations of the Hotel would therefore remain the same as the new owner of the shares of AHI would continue to be bound by the terms and conditions of the said agreements between AHI and Marriott International. In other words, NICIL is selling the company (AHI) as a whole, `as is where is’, he told this newspaper.
