Marriott International remains steadfast in their decision to acquire the Elegant Hotel Group and is now eagerly preparing to invest millions of dollars in Barbados post-COVID to enhance the properties and elevate their standards.
Alex Fiz, the Caribbean & Managing Director – All-Inclusive, Area Vice President, expressed unwavering confidence in the acquisition, emphasizing that the pandemic, delays, and inflation did not deter Marriott. In an interview with Loop Business, Fiz revealed that the company is still delighted with the purchase.
“When we acquired this portfolio in 2019, we had a renovation plan in place. Unfortunately, due to three years of inflation and the impact of COVID on the supply chain, we will now be spending significantly more money than originally anticipated. However, we are thrilled to make this investment,” he stated.
Fiz further explained, “The quality of the properties deserves it, and the market deserves it.”
During his address at The House by Elegant – All-Inclusive in Paynes Bay, St James, as part of the Caribbean Hotel and Tourism Association (CHTA) Marketplace 41, Fiz announced Marriott’s commitment to invest $100 million in the Elegant portfolio and expressed enthusiasm about doing so in the local market.
The renovation process is now entering a new phase, with Marriott already having prepared sample rooms. Fiz stated that the next steps include purchasing furniture, decorating the rooms, and hiring a significant number of employees. He also highlighted the employment opportunities available to locals, emphasizing their desire to collaborate with talented professionals and leverage local expertise for interior design and decoration, ensuring the hotels maintain a sense of authenticity.
When asked about the cost of completing renovations in Barbados compared to other expansion and renovation projects in different locations, Fiz responded by saying that he does not believe Barbados is more expensive. He stated, “I think it’s on par with other islands. It is not significantly more costly to renovate or build a new hotel here.”
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