Park Hyatt St. Kitts Expected to Bring Economic Benefits, PM Douglas Says

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 program 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.

Dr. Douglas pointed out that although he has spoken on other programs 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.”