Caribbean

St Vincent’s Largest Ever Tourism Project – a Five-Star Luxury Resort – Breaks Ground

KINGSTOWN, St Vincent, Thursday
February 13, 2020

St Vincent and The Grenadines is embarking on its most ambitious tourism project
to date – the Royal Mill Hotel Luxury Resort and Residences which is set to be a
premier 5-Star private community and contender among luxury resorts in the
region.

The single
largest private sector tourism investment in the country is being undertaken by
A&A Capital.

And Prime
Minister Dr Ralph Gonsalves expects it to have huge spin-off potential.

“Upwards of
400 families island-wide are expected to benefit directly or indirectly from
the hotel. I anticipate a major shift in our tourism economies and wealth
creation through direct employment, taxes and National Insurance contributions,”
he said.

“Though St
Vincent and the Grenadines entered the mass tourism market late, it is evident
through other hotels on the island that our country’s product is of excellent
stature. Overall, I expect the Royal Mill to be an immense contribution to the
people of St Vincent and the Grenadines.”

Currently,
the staff base at the construction site is about 70 workers, and that is
expected to increase considerably to more than 200 in the coming months. The
local job creation from the project ranges from site engineers to foremen,
masons, carpenters and other labourers.

The US$60
million Royal Mill Hotel Luxury Resort will comprise 15 independent and private
residence homes, while the resort will provide 18 high-rise apartment units and
two rooftop penthouse units. The property will house a business centre, a
conference/meeting centre, a gym, an aqua centre, an exclusive spa, a pool area
and bar, an urban lounge viewing the ocean, a rooftop bar and restaurant and
parking for more than 60 vehicles.

The residence
portion of the project has an expected completion date of December 2020, while the
hotel section is due to be done by mid-2022.

Principal
Investor and co-founder of A & A Capital, Alex Lodde said he was happy to
see the pace of the new development, and the cooperation and assistance of the St
Vincent and the Grenadines Government, and was looking forward to the
completion of the project.

CEO and
Co-Founder of A&A Capital, Adem Adem, added that he was excited about the Royal
Mill Hotel project and looked forward to it benefitting the country.

“I have been
visiting St Vincent and the Grenadines for the past 15 years and I never
thought I would have seen this day and our dream has come true. I am grateful
for the commitment of my team, the support of family and the warm welcome of
the people and the leadership of St Vincent and the Grenadines,” he said.

“It is
important to note that the most critical aspect of the project for us is
ensuring that the people of the country benefit meaningfully from a
trickle-down economy and are always safe and secure while employed at the
hotel. We see the Royal Mill Hotel spanning generations of St Vincent and the
Grenadines.”

He further assured
that A&A Capital was strongly committed to and invested in the completion
and longevity of the development.

“One of the
major proofs of commitment is the levels of employment already realized as well
as the importation and purchase of millions of dollars’ worth of major
equipment and material, both for construction of the hotel and for use by St
Vincent and the Grenadines. We realized the need for heavy-duty equipment on
the island and felt that the country can benefit from our equipment resources
as well. We have also purchased over 10 million dollars’ worth of integral
material which would fulfil the completion of the hotel,” he said.

The Bank of
St Vincent and the Grenadines (BOSVG) has given its backing to the project. The
bank, through its Managing Director Derry Williams, has acted as a principal
collaborator.

“As a bank,
we must provide assurances to investors coming into any unknown to take
investment risks. From our end, it’s not just about conducting the investor’s
transactions effectively but also providing feedback from the banking community,
the trajectory of the economy and governing policies. The passion,
thoughtfulness and commitment to developing St Vincent and the Grenadines were
also very important. A&A Capital has proven, to date, their commitment to
the project and seeing it to its absolute fruition and this is truly good news
for our country,” Williams said.

Camillo
Gonsalves, Minister of Finance and Parliamentary Representative for East St
George – the constituency in which the project is located – this is the exact
type of tourism that the country is interested in leveraging.

“One which
brings people into the island and will realize an entire set of ancillary
spin-offs which will benefit the economy. Already, the construction sectors are
profiting from the construction phase of the project,” he said.

In addition
to the Royal Mill Hotel Development, A&A Capital has acquired the family-owned
Grand View Hotel. Renovation works have already started on the 20-room boutique
hotel.

“This boutique property will be ideally positioned for tourists, regional travellers, businesses and organizations that wish to host conferences on the island. It will also play host to special events and weddings….Works are progressing rapidly to have the small property ready for guests in April 2020,” Lodde said.

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