N Touch
Wednesday 24 July 2019
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$320 million profit for Hyatt

THE Hyatt Regency Hotel in Port of Spain reported a profit of approximately $320 million from 2013 to 2017.

Trade and Industry Minister Paula Gopee-Scoon made this report to the Senate yesterday. These profits included $75.7 million, $76 million, $66.3 million, $51 million and $60 million in 2013, 2014, 2015, 2016 and 2017 respectively.

Gopee-Scoon said this was profit after tax and the Hyatt did not receive a subvention from the Government.

Later in the sitting, Gopee-Scoon said TT and Jamaica are seeking to strengthen trade relations. A meeting held recently between representatives of both countries discussed the issue of a trade imbalance between TT and Jamaica. Gopee-Scoon said Jamaica is interested in supplying specific products to TT. Ways to use Jamaican agricultural inputs into the manufacture of TT products are also being discussed, the minister said.

Gopee-Scoon also said TT and Jamaica will look at the removal of regulatory obstacles which may be restricting trade between both countries. She reminded senators that Prime Minister Dr Keith Rowley’s visit to Jamaica in July 2016, laid the framework for a multiplicity of issues. Gopee-Scoon added it, “went a little bit wider than trade.”

St Augustine MP Prakash Ramadhar was the lone Opposition parliamentarian who was part of Rowley’s delegation to Jamaica two years ago.

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