Jamaica receives bids from transaction advisors for hotel PPP

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Jamaica receives bids from transaction advisors for hotel PPP

The Governement of Jamaica, through the Ministry of Tourism and Entertainment, is currently evaluating bids from transaction advisors to upgrade the Milk River Hotel and Spa in Clarendon through a PPP project.

The consulting firms recently bid to structure a potential PPP transaction for the project. The preferred bidder will have to identify the unforeseen economic, technical, financial and legal issues prior to engaging with the private sector.

Milk River Hotel & Spa is owned by the Government of Jamaica and is operated by the Ministry of Tourism and Entertainment. The property is comprised of the hotel and nine baths.

The government has also plans to upgrade the Bath Fountain Hotel & Spa in St Thomas through a PPP project. These two projects are part of a plan to attract tourists to the thermal and mineral water area.

According to the strategic advice on PPP for bath and hotel issued from the Foundations For Competitiveness and Growth Project (FCGP), a US$50 million World Bank project which aims to strengthen the private sector  in Jamaica through various initiatives:

"The introduction of private sector capital and management expertise to upgrade the Milk River Hotel and Spa and the Bath Fountain Hotel & Spa to world-class standards could accrue significant additional benefits. It is envisaged that the development of the facilities will be undertaken within the context of the Government of Jamaica's PPP policy."

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