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The Agency for Reconstruction and Development Inc. (ARD), through its Economic Recovery Department, is working with hotel owners and managers to determine the financial requirement for reviving this sub-sector of the vitally important tourism sector. The ARD Economic Recovery Department staff has conducted interviews with representatives of 26 hotels throughout the State regarding financial needs, the extent of works already completed and the length of time required to complete construction works underway or in the planning stages. Preliminary figures provided by the hotels indicate that the sub-sector will require (EC) $38 million to make 800 rooms operational. The small hotels with 10 to 25 rooms need (EC) $7.9 million, while the medium-sized hotels with 25 to 70 rooms need $20 million. Hotels with more than 70 rooms require approximately $10 million. The ARD Economic Recovery Department is conducting similar research on the manufacturing and services sectors. The compiled data will be used by the ARD to identify financial and other forms of assistance for the private sector.
Agency for Reconstruction and Development Inc. |
