St. Kitts – Nevis Both To Benefit From Park Hyatt Hotel

Park Hyatt Logo

Economic Benefits For Both Islands

Basseterre, St. Kitts – Nevis
July 18, 2012 (CUOPM)

Plans for the construction of a Park Hyatt St. Kitts on the island’s Southeast Peninsula will result in economic benefits to the people of the twin-island Federation.

In his weekly Ask the Prime Minister call in radio programme on Tuesday Prime Minister the Rt. Hon. Dr. Denzil L. Douglas said the southeast peninsular represents a unique and powerful territorial and psychological link between Nevis and St. Kitts.

“Because when one is on the peninsula, one is really struck by just how close our two islands really are.  When on that strip of land, I am sure you will agree, the “two islands, one paradise” theme really comes to life because the waterway dividing both islands is so very narrow.  And so, anything that happens in terms of economic development on the peninsula, therefore, will represent a stimulus that will produce benefits that ripple outward, throughout the Federation ““ for those living in St. Kitts between Frigate Bay to St. Paul’s, and for those living in Nevis between Oualie Beach and Windward Beach. The economic benefits are real, and the ripple throughout both islands,” Dr. Douglas told listeners to the programme.

Dr. Douglas pointed out that although he has spoken on other programmes about the Government’s development thrust in the northwestern or Capisterre region of the Federation, through such projects as Kittitian Hill, “we at the same time continue to push forward where this link, this bridge between the two islands is concerned as well.

Prime Minister Douglas who held discussions with several investors in Dubai last week said it is part of his government’s continued push forward despite the global downturn.

“The benefits, I am certain, obvious to all since a hotel of this caliber will not only result in an increase in high-end visitors to our shores, but the addition of a five-star hotel and an increase in visitors will also result in expanded opportunities for workers, service providers, and all of the other interests and entities whose revenue streams are enhanced and expanded as a result of the tourism industry,” said Prime Minister Douglas.

He describes The Park Hyatt St. Kitts is the ingenuity and the imagination with which the financing of this project was structured, noting that several hotel projects throughout the Caribbean and around the world have simply stalled.

“No funding ““ whether private, public, or in-between.  And so, the vast majority of hotels that are being financed and developed in the Caribbean today, for example, are being paid for by significant direct Government funding.  In this era, however, and in this global climate, it was particularly important to us that The Park Hyatt St. Kitts not be financed in this way.  And we are very pleased to be able to assure you that it will not,” said the St. Kitts and Nevis leader.

He said it is in this period of global volatility and uncertainty, “my Government not only understands the importance of ever-protecting and advancing our country’s economic interests, we actually do so.”

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