Sandals Resorts International (SRI) has announced that it will not be going forward with the construction of a 750-room Sandals and Beaches Resort in Tobago.
SRI said Tuesday that after careful consideration, it will unfortunately not be embarking on the project.
The Tobago Business Chamber expressed regret over the decision, expressing the hope that there could be some way of salvaging the deal.
Jamaica Observer quoted the Chamber as saying that it is convinced that with the billions of dollars of investment in construction, job creation, training, and service delivery attendant upon such projects, it is possible for the population of Tobago, as a whole, to benefit and develop and derive spin-offs from such developments.
Last year Trinidad and Tobago Finance Minister Colm Imbert said the investment by Sandals would represent a major turning point for the economy of Tobago.
In announcing that the Tobago hotel project would no longer be going forward, Sandals thanked Prime Minister, Dr Keith Rowley and his Government for inviting the resorts to explore the possibility of bringing the Sandals brand to the Island just over two years ago.
The company also noted the government’s ‘tremendous support throughout this process’.
‘While such a project was not in our original short-term plans, we have always found Tobago to be an amazing destination with tremendous potential, and we signed a non-binding memorandum of understanding with the Government to guide these discussions and explore the opportunity further,” Sandals said in a statement quoted by the Jamaica Observer.