Zoom Inn saw 75% occupancy for CWC
April 13, 2007
Chief Executive Officer of Zoom Inn Terry Singh said yesterday that the hotel had a 75% occupancy rate during Cricket World Cup. Zoom Inn was one of the hotels that opened its doors last month in time for CWC.
During the CWC period, guests stayed for as long as two weeks, said Singh, and current occupancy was down to 40%.
Zoom Inn, according to its brochure, has 40 rooms, but Singh told the media that there were actually 50 rooms.
The building of the hotel was a diversification move, Singh said. The businessman also operates Japarts at 38 Croal Street, a mining entity and a Caterpillar products dealership.
The $325 million hotel took nine months to build and has five floors. Guests are offered free continental breakfasts; all rooms have internet access and there is an international bar. Singh said the new hotels should not engage in a price war as this would benefit no one. He called for a discussion within the sector on the way forward.
President Bharrat Jagdeo who visited the hotel yesterday was impressed, saying it was more than comparable to regional hotels. He said work would have to be done with the airlines and hotels in relation to boosting the tourism industry.
Entrepreneurs building hotels for CWC were given 100% concessions on imported building materials, furnishings and other items by the government.
The President said the concessions given to build hotels were to be used as a springboard since "you couldn't make back all your money from World Cup". Joining the President on the visit was Minister of Tourism, Industry and Commerce Manniram Prashad, who encouraged Singh to offer weekend packages to boost occupancy levels.
A Zoom Inn branch is also planned for Lethem and Singh yesterday indicated to President Bharrat Jagdeo that he would be seeking concessions for vehicles since transportation is a major concern. The Takutu River is being bridged under a US$3 million Brazilian government project, to create a road link between Brazil and Guyana. The Brazilian government has said that in principle it is open to financing the paving of the Linden to Lethem road through a loan from the state-owned Brazilian National Economic and Social Development Bank. Once the bridge and road are completed, there is expected to be a boom in the area.