News

St Kitts’ Ocean Terrace Inn Receiving $5M Loan For Upgrades

By: Caribbean Journal Staff - June 18, 2013

Above: the Ocean Terrace Inn

By the Caribbean Journal staff

St Kitts’ Ocean Terrace Inn will be receiving a $5 million loan from the St Kitts and Nevis Sugar Industry Diversification Foundation, the government announced.

The loan will go toward upgrades to the project, which is the oldest boutique hotel in the twin-island federation.

“The loan to the landmark hotel will include substantial improvements to the hotel plant, infrastructure and amenities and the use of state of the art green technology for energy conservation,” the SIDF said in a statement.

The loan was given to its parent company, the St Kitts-Nevis-Anguilla Trading and Development Company.

“In making the loan, SIDF is executing one of its purposes of supporting, financing or undertaking the development of new and existing industries, projects or enterprises,” the SIDF said in it statement.

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