By Mia Anthony
President Irfaan Ali last evening officially opened the Aiden, a Best Western franchise hotel at the corner of Oronoque and Robb streets, with a nod to the crucial role of local investment and the importance of global competitiveness in Guyana’s hospitality sector.
Commending the Guyana Bank for Trade and Industry (GBTI) for backing the project, developed by Arimu Investment Group, he said, “We should applaud the banking sector. GBTI played a pivotal role in providing the financial support necessary… showing trust in our local investors. This is a key example of how we can move forward together as a nation.”
He said that Guyana was not in competition with itself but with the global market. “We must build our projects with a mindset that understands we’re not just competing locally. We are part of a global environment, and if we want to win in that environment, we need to learn and adopt a winning culture.”
(DPI photo)
While the cost of the hotel was not revealed last evening, when the sod for its construction was turned in 2022 it was pegged at US$15 million.
The Aiden offers amenities designed to cater to the diverse needs of travellers. The nine-storey modern building has 101 executive smart rooms with the ground floor consisting of a conference room that can seat 120, a restaurant and bar that can accommodate approximately 170 , and a coffee shop. The second to seventh floors, as was explained in 2022, consist of 97 rooms while the eighth floor houses a gym and sauna area, four executive suites all equipped with open terraces, an executive boardroom equipped with a bar, modern technology services and a terrace with privacy screens. The ninth floor has a rooftop bar and lounge.
Geraldo Alphonso, head of Arimu Investment, reflected on the challenges and triumphs of the hotel’s development over the last three years. Alphonso credited the support of the government.
“The level of coordination and assistance from Go-Invest has been nothing short of exemplary,” Alphonso said. He also thanked various stakeholders involved in the construction process, including local contractors and professionals, who worked to bring the project to completion.
Alphonso emphasised the importance of using local talent and resources, citing the involvement of Guyanese engineers, fabricators, and contractors in the hotel’s construction.
He also acknowledged the support of GBTI, the sole financial institution funding the venture, and announced plans for future projects, including securing the franchise of another global hotel brand. He acknowledged the government’s focus on tourism and hospitality, noting that initiatives like the upcoming establishment of a hospitality training school would further boost Guyana’s appeal as a tourism destination.
Arimu Investments Inc has also acquired a second Best Western franchise – SureStay Plus.
Currently, the hotel employs over 60 Guyanese and Alphonso expressed optimism about its future, with upcoming major events such as the CPL finals in 2025 and the Global Super League set to drive tourism to Guyana.
GBTI CEO Shawn Gurcharran highlighted the Aiden as a catalyst for economic and social growth in Guyana. “This project represents more than just the opening of a new hotel. It embodies the spirit of partnership, innovation, and development,” he stated, noting that GBTI’s decision to partner with the venture was driven by a shared vision for growth and strengthening the local economy.
He highlighted the long-term benefits of the hotel, including its role as a hub for local businesses and workforce development. “The tourism and hospitality sectors are critical engines of economic growth, and we are proud to play a role in enabling this success,” he said. He pointed out that hundreds of jobs were created during the hotel’s construction and the sustainable employment opportunities it will continue to generate.
Gurcharran also underscored the broader economic impact of the project, mentioning how sectors such as food, retail, and transportation will experience positive ripple effects. Additionally, he linked the hotel’s significance to Guyana’s unprecedented economic growth, driven by the burgeoning oil and gas industry. However, he also noted that the government’s focus on diversification has ensured that sectors like agriculture, tourism, and manufacturing are also benefiting from this economic boom.
“At GBTI, we recognize the pivotal role that infrastructure and tourism development play in fostering sustainable, long-term economic progress,” he said. “We believe in more than just financing buildings; we believe in partnerships and the future. The future of Aiden is bright and successful, and we look forward to the lasting positive impact this hotel will have on Guyana and its people for years to come.”
Peter Ramsaroop the head of Go-Invest said that what makes this project so exciting is that it’s “truly local” from the investors to the land.
He highlighted the government’s commitment to supporting these ventures, noting that the goal is not just to build rooms but to fill them. “The President has said it many times: build the rooms, and we’ll do everything we can to make sure they’re filled. Last week, we hosted the IBC conference with over 500 attendees. We’ve had opportunities like the African Export-Import Bank wanting to hold an event for 1,300 people, but we couldn’t accommodate them because we lacked the quality rooms,” he said.
“There are many opportunities we’ve missed due to limited hotel capacity, but this project changes that.
As a Guyanese, it fills me with pride to see our own people stepping up. This is the first hotel under the President’s vision of 2,000 new rooms – and there will be even more as we move forward.”
