New Marriott hotel first tenant in aviation park

The 154-room Four Points by Sheraton Hotel and Conference Centre will be the first of its brand managed by Marriott in the Caribbean.

The hotel, expected to be completed by the end of 2024, will be the anchor tenant in the 167-acre North Aviation Business Park at Piarco.

The hotel is a project by Prestige Hotels Ltd, comprising construction management firm Stages Group, investment management group Small Enterprise Assistance Funds (SEAF), and designers Urbahn Architects in collaboration with local firm GSAL Designs Ltd, and will be run by Marriott Hotels.

Speaking at the sod-turning ceremony on Wednesday, Prestige Hotels Ltd director and Stages Group CEP Tamarco Edwards said the project was conceived five years ago.

“We at Prestige Hotels Ltd are proud to make our contribution to TT’s national development through this investment to the tune of US$25 million, approximately (TT) $170 million.”

SEAF chief investment officer Hubertus Jan van der Vaart said the company had wanted to invest in TT for some time and was pleased to see how the country had moved through covid19.

“We were pleased with the vision that the Stages Group has, which is not only to construct energy-efficient, resilient, quality projects, but also to hire and train local residents to expand the employment of high-quality construction workers and design.”

Urbahn Architects PLLC principal Natale Barranco said the hotel would have multiple types of guest rooms, and guests could enjoy a full-service restaurant and bar, cutting-edge fitness centre, a multi-level pool and hot tubs, different areas for social interactions, and a sub-dividable conference centre for 300 people. He said business in TT was done over lunch and dinner and during cocktails, and wanted to design something to facilitate that.

“The hotel has been designed incorporating the principles of environmental, social, and corporate governance to minimise the adverse effects and impacts and create a facility that will socially benefit the local community.

"The outside has been designed to maximise the cooling efficiency of the structure, we are providing on-site electric vehicle charging ports and using a substantial array of photovoltaic solar panels on the roof. We are using locally sourced building and decorative materials which will strengthen the building’s carbon footprint and increase local representation of TT. Local employees will be offered attractive salaries.”

Marriott Select Brands area director Ursula Gutierrez said this will be the first Four Points by Sheraton hotel in the Caribbean as well as the first Marriott-brand hotel in TT managed directly by the group. She said all upper management and staff could be hired locally, with training provided in all the systems and the processes.

TT Airports Authority general manager Hayden Newton said airports are becoming multi-purpose centres and this development was the first step in the growth of an airport city around the Piarco aerodrome.

“Following the pandemic, we are making efforts to reduce the financial risk of being severely affected by future shocks to global aviation by developing diverse non-aeronautical revenue streams. We are leasing and developing our 168 acres of land for mixed-use businesses such as hotels, cargo operations, retail business, office space, and branded warehouse and transport hubs. We are also working to encourage new airlines to come to our airports.”

He said a recently issued request for proposals for businesses to occupy the aeropark has been attracting interest. Arrivals at Piarco, he said, had almost reached pre-pandemic levels and are projected to rise.

Works and Transport Minister Rohan Sinanan said the aeropark project has been over 20 years in the making and had seen eight works ministers, seven boards, and seven permanent secretaries come and go. He said there was over $100 million in infrastructure lying idle so he was happy to see the project coming to life. The fully developed aeropark will bring in 5,000-6,000 well paying jobs, attract foreign investment, and bring US foreign exchange into the country. He said to his knowledge construction would begin in January, once the dry season started.

Tourism, Culture and the Arts Minister Randall Mitchell said government expects the hotel to be a net foreign-exchange earner, with over 500 people employed during construction and over 200 while it was in operation.

“It will stimulate the manufacturing, agricultural, services, and creative sectors. Over 6,000 flight crew pass through Piarco yearly, and we expect these numbers to increase now that the US Federal Aviation Administration has mandated longer rest periods, meaning that these crew members will be staying at this hotel, as well as contributing to the wider economy.

"We at the ministry will also do our part in processing the concessions granted under the Tourism Development Act.”

Mitchell told Business Day that for the first seven years, the tourism-approved project will receive tax exemption on gains and profits, corporation tax, and green fund levy, as well as customs and duty concessions on imported items during the construction and buildout of the hotel. He said the hotel room tax and VAT on services will be remitted to government.

Edwards said the group expected to see a return on investment five years into the project. Under the Bonvoy loyalty programme, he said, international airlines associated with Marriott would direct traffic to the hotels.