Kent Investments signs agreement to operate Napa Hotel

KENT Investments Ltd will now market, manage and operate the National Academy for the Performing Arts (Napa) Hotel, which comprises of 53 rooms, including luxury suites with views of the Queen's Park Savannah.

The official signing of a heads of agreement was done between Napa and Kent Investment Ltd at the Napa Hotel in Port of Spain on April 22.

A release from the Ministry of Tourism, Culture and the Arts said the milestone was significant to the government's effort to productively use state assets and to develop tourism and cultural sectors.

After an estimated $16 million investment, which included upgrades to ICT infrastructure, guest rooms, and amenities such as a new bar and enhanced security, as well as the procurement of operating supplies and equipment, including items like cutlery, linens, and other essential operational goods, the hotel is expected to make $22.6 million in revenue over the next five years, according to the release.

Kent Investments has also injected $5.6 million in capital towards these upgrades. The hotel is also expected to permanently employ 73 people when fully operational.

It is also expected to deliver tangible benefits to the local agriculture and manufacturing sectors through backward linkages.

"Fresh produce, meats, dairy, and other perishables will be sourced directly from local farmers, ensuring consistent demand and supporting livelihoods.

"From the manufacturing sector, the hotel will procure a wide range of locally made products, including toiletries, cleaning supplies, packaged snacks, bottled beverages, linens, uniforms, furniture, and decorative items. These backward linkages not only promote local production but also encourage value-added processes and job creation across multiple industries," the release said.

It is also expected to generate forward linkages.

"It will attract visitors whose spending will benefit nearby restaurants, tour operators, artisans, and transportation services.

"This multiplier effect enhances income generation and economic diversification, making the hotel not just a standalone enterprise, but a key driver of sustainable, community-based tourism and growth."

Tourism Minister Randall Mitchell said the partnership represents a strategic advancement in state-owned hospitality assets.

"Through this initiative, we are creating employment opportunities, fostering tourism development, and elevating the standard of hospitality in the capital city.”

Since Napa's inception in 2009, the hotel has been used to facilitate specific visit and events, but was never fully utilised.

In December 2023, Cabinet approved the issuance of a Request for Proposals (RFP) for the operation of the Napa Hotel.

The RFP, issued in March 2024 and closed in June 2024, invited proposals from qualified entities with a demonstrated track record in hotel management.

Six prospective proponents expressed interest and attended the mandatory site visit. Kent Investments Ltd emerged as the top-ranked bidder.

Kent Investments Ltd operates under the brand name Cara Hotels. Its flagship property, Cara Suites Hotel and Conference Centre, is located in Claxton Bay, Trinidad, and is a well-established business-class hotel offering a blend of comfort, service, and accessibility for business and leisure travellers alike.

Cara Hotels also owns and operates a property in Georgetown, Guyana known as Cara Lodge. Cara Lodge is renowned for hosting diplomats, dignitaries, and business travellers.

The agreement signed between both parties said Kent Investments will serve as the operator, while Napa retains ownership of the hotel.

In the release some of the key agreement stated were Kent Investments Ltd being responsible for managing the hotel’s full suite of operations including front desk, housekeeping, food and beverage, sales and marketing, and revenue management.

The agreement stands for five years, with the option to renew for another five-year period.

Kent Investments Ltd will be entitled to a management fee of four per cent of gross revenues, and an incentive fee of 11.5 per cent of gross operating profit.

Napa will contribute four per cent of gross revenues annually to a capital expenditure reserve and will bear the costs of all pre-opening expenses. Napa is also expected to generate a strong return on its investment well above the industrial standard of ten per cent.

The head of agreement signing will remain in effect for six month or until it is executed. A team will continue to work with Kent Investments to finalise the agreement.