Approximately US $1 billion will be invested in the tourism sector in Barbados between 2015 and 2019.
This disclosure has come from Chief Executive Officer of the Barbados Tourism Investment Inc. (BTI), Stuart Layne, as he delivered remarks today at the official ground-breaking ceremony for the Wyndham Sam Lord???s Castle Project.
It has a projected price tag of BDD $450 million, including the cost of the land.??Mr. Layne said Government had mandated BTI to deliver one new tourism project every year from 2015 to 2019 and beyond.
???We have taken this directive seriously, starting with the opening of Sandals Casuarina in January 2015, which was facilitated by the BTI. The Sands Hotel will come on stream in 2016 and phase two of Sandals Casuarina will be ready by 2017,??? he further disclosed.
Pointing out that the Wyndham Sam Lord???s Castle property represented a critical component in the BTI???s investment strategy, he stressed that it would be a state-of-the-art facility. ???Wyndham, like us, believe that this will be an incredible product when completed,??? he told his audience.
The contractor for the project, which commences in 2016, is China National Complete Plant Import & Export Corporation (COMPLANT). The project will include the redevelopment of the former Castle and Cliffside restaurant buildings; construction of an upscale resort hotel comprising 350 guest rooms; 100 vacation ownership units; a destination spa; and a conference centre.