With over 500 registered properties on the island, 53 applications have been received for the tourism grant from the Tobago Tourism Agency Ltd (TTAL).
Government is offering $50 million to hoteliers in Tobago to help upgrade and refurbish their properties in preparation for reopening post-covid19.
The grant was announced in April by Finance Minister Colm Imbert as part of a response to the pandemic.
Speaking with Newsday on Thursday, TTAL’s CEO Louis Lewis said the distribution of the grants began earlier this week.
“It took a little while to build, but it’s at a point now where it’s now moving.
“We actually have 53 applications that we are processing. To date, we have actually visited 35 properties and we have commenced payment to a list of 14 of them,” he said.
For Tobago to remain competitive, he said, some enhancement of "the tourism product" was needed.
"The grant is designed to assist in addressing that. So the government is utilising the downtime."
Since TT's borders are closed, he said this was the ideal time for renovations and enhancements.
Under the arrangement, hoteliers with 100 rooms or more can access up to $600,000 from the fund. Properties with 50-99 rooms can access a maximum of $500,000 and properties of eight-50 rooms can qualify for up to $300,000. Those with under seven rooms can access up to $100,000.