News

Haiti Marriott Project Receiving $26.5 Million in Financing From IFC

By: Caribbean Journal Staff - July 3, 2013

Above: a rendering of the hotel

By the Caribbean Journal staff

The Marriott hotel project in Haiti’s Port-au-Prince is receiving $26.5 million in financing from the IFC.

Turgeau Developments SA, which is sponsored by Digicel, will be receiving the funding for the project.

“The Marriott brand is synonymous with high quality hospitality,” said Colm Delves, Digicel CEO in a statement. “We are glad to help bring this flagship company to Haiti and support the tourism sector, which is one of the government’s priorities. Together with IFC, Digicel is helping rebuild critical business infrastructure needed to attract further foreign investors.”

The hotel will be the first in the Turgeau area of Port-au-Prince.

“Haiti has the fundamental conditions for sustainable economic growth, including a competitive workforce, proximity to major markets, and unique cultural and tourist attractions,” said Ary Naim, IFC Representative for Haiti.  “With our long-term financing support for this new and important piece of business infrastructure, we are confirming our commitment and confidence in Haiti’s future.”

The companies say the 175-room hotel project will create 300 jobs during construction and another 200 permanent jobs during operations.

It is slated to open in 2015.

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