InvesTT welcomes Four Points by Sheraton Hotel

InvesTT welcomes Four Points by Sheraton Hotel

On Wednesday 2nd November, a groundbreaking ceremony to mark the beginning of the construction of a new 154 room Four Points by Sheraton Hotel and conference center, was held at the International Airport Estates – the Caribbean’s first Airport City, located at Piarco International Airport. The ceremony was hosted by hotel developers and designers, STAGES Group and Urbahn Achitects, who together founded Prestige Hotels Limited.

From Left to Right: Mr. Hayden Newton, General Manager, Airports Authority of Trinidad and Tobago, Mr. Christopher Alcazar, Chairman, Airports Authority of Trinidad and Tobago, Ms. Ursula Gutierrez, Area Director, Marriott Select Brands, CALA, Sen. the Hon. Rohan Sinanan, Minister of Works & Transport, Sen. the Hon. Randall Mitchell, Minister of Tourism, Mr. Tamarco G. Edwards, Director of Prestige Hotels Ltd, Deputy Chairman of STAGES Group Mr. Natale V. Barranco, Director of Prestige Hotels Ltd, Principal of Urban Architects. PLLC. Mr. Hubertus Jan van der Vaart, Co-founder and Chief Investment Officer of SEAF
Mr Sekou Alleyne, President, InvesTT

According to Mr Sekou Alleyne, President, InvesTT, “We are pleased to have facilitated the Four Points by Sheraton Hotel project over the past 5 years. In 2017 the Airports Authority of Trinidad and Tobago formally requested InvesTT’s facilitation services to advance the development of the project. As an investment promotion agency, we were able to initiate numerous strategic interventions with key stakeholders to fast-track applications and escalate issues on behalf of the project team. We are pleased to see the steady advancement of the project and wish to congratulate Prestige Hotels Limited, URBAHN Architects and STAGES Group Inc for embarking on this endeavour in partnership with Marriott International.”

Urbahn Principal, Natale V. Baranco, AIA, LEED AP

Urbahn Principal Natale V. Barranco, AIA, LEED AP, announced that “in the near future, Prestige Hotels plans to expand its portfolio with the addition of both airport and resort hotels, including new properties in Guyana and on the island of Tobago.” Stacy Adams, Vice President, Investor Services, confirmed that “InvesTT will continue to provide facilitation services to Prestige Holdings Ltd during the expansion phase. We will provide assistance with the attainment of necessary approvals at the relevant time and will continue to facilitate meetings between Prestige Holdings Ltd and key stakeholders who can move the expansion project forward in a timely manner.”

Tamarco Edwards, Deputy Chairman and Founder of STAGES Group

Tamarco Edwards, Deputy Chairman and Founder of STAGES Group shared that “upon opening, expected in early 2025, this hotel property will predominantly serve business travelers, air crews, transit passengers, tourists, and guests of international and local events and conferences.” Inskip B. Pollonais, Chairman of Prestige Hotels Ltd. and Chairman of STAGES Group Inc. added that the vision is to “…construct a facility which concurrently enhances the business traveller and tourism experience by creating a business centre and an overnight oasis.”

Pramilla Ramdahani, Vice President, Investments, InvesTT stated that "the Four Points by Sheraton project will contribute to Trinidad and Tobago’s economic diversification agenda with its potential to boost the country's hotel industry through increased attraction of business travelers to the island. Currently, Trinidad is known as the business capital of the region and the establishment of Four Points by Sheraton will certainly add to the country’s appeal to investors."

Prestige Hotels Limited is 70% owned by STAGES Group and 30% by Urbahn Architects . Washington, D.C-based SEAF, via its SEAF Caribbean SME Growth Fund, is an additional equity partner. Marriott International, which owns the Four Points by Sheraton brand, serves as property manager.

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