The Government of Prime Minister Tillman Thomas is hopeful that it can bring to the fore another signature hotel before the end of the year.
Tourism Minister Dr. George Vincent who made the disclosure said government is in “deep negotiations” with the Mt. Hartman Estate to help facilitate the hotel.
Mt. Hartman was the area targeted for the proposed Four Seasons Hotel under the former Keith Mitchell-led New National Party (NNP) government.
The financers reportedly failed to raise the millions needed to build the hotel.
According to Dr. Vincent, who was a guest on the weekly “Sundays With George Grant” programme, the current government has been given a commitment of US $115m from the Exim bank of China to construct a multi-million dollar hotel to aid the island’s tourism development.
He said as part of the conditions to secure the financing, government is already working with a developer whom he did not identify to “seal the deal.”
Dr. Vincent disclosed that with a deadline set to seal the deal by the end of 2012, the developer has committed $35m towards the new hotel.
He said the obstacle that is now standing in the way is ownership of the land.
The new signature hotel being worked upon comes on the heels of Sandals taking control of the financially-strapped LaSource Hotel a few months ago.
The Tourism Minister announced a new opening date for the Sandals/La Source of November 2013.
He said the owners of the hotel chain felt that it would be better to push back the opening date so that all of the major construction could be done and to bring the total number of rooms up to 228.
He said that given the increase in the number of rooms, the number of persons to be employed will be approximately 560 at the new resort.