Comments on: Minister: Government Guarantee For Hotelco

By: Joe Bloggs

Joe Bloggs — Sun, 03 Nov 2019 10:26:14 +0000

No. The guarantee was put in place by Curtis Dickinson. Governments can always break their promises and frequently do.

Why are you trying to blame the OBA for this? Do you already know the project is bound to fail?

By: Question

Question — Sat, 02 Nov 2019 19:08:33 +0000

No, the guarantee was pit in place now. It’s new.

By: swing voter no more!!!

swing voter no more!!! — Sat, 02 Nov 2019 18:00:59 +0000

Oh…..I didn’t know the UBP was still blogging.

By: Things a Gwan

Things a Gwan — Sat, 02 Nov 2019 17:35:49 +0000

Did the PLP not say they were going to do things differently despite what the status quo thing. Sorry not buying it

By: What?

What? — Sat, 02 Nov 2019 14:34:12 +0000

You do understand that this guarantee was put in place by the OBA just prior to the election, don’t you?

By: What?

What? — Sat, 02 Nov 2019 14:33:40 +0000

You do understand that this guarantee was put in place by the OBA just prior to the election, don’t you?

By: Let's Keep It Real

Let's Keep It Real — Sat, 02 Nov 2019 13:06:00 +0000

A lot of reassurance of financial backing is being put in block and mortar. However where is the financial backing for a vulnerable youth, who is being denied representation because no one that can assist them is being paid.

By: Sandgrownan

Sandgrownan — Sat, 02 Nov 2019 11:34:24 +0000

Oh… didn’t know Curtis was still finance minister

By: What

What — Sat, 02 Nov 2019 03:12:10 +0000

Could save the Morgan’s Point Development if they had a casino and get us off the hook for the OBA guarantee?

By: What

What — Sat, 02 Nov 2019 03:10:50 +0000

Yet another guarantee that the OBA put us in! That’s our money! Is there any more we should know about? What about the casinos that the OBA guaranteed? And Hamilton Princess should not get a casino license because Hamilton and the Pitts Bay Road has too much traffic congestion already!

By: Things a Gwan

Things a Gwan — Fri, 01 Nov 2019 21:25:37 +0000

The more things change. The more they stay the same.

Where is the uproar? When is the March?

By: Vote for Me

Vote for Me — Fri, 01 Nov 2019 21:06:15 +0000

Thankfully I read the full statement.

The PLP government is honoring the intent by the former OBA government to guarantee $25m of the $60m loan associated with the development. The other $100m of the project will be funded with the developers own money (e.g. equity). How honourable of the PLP!!

By: Joe Bloggs

Joe Bloggs — Fri, 01 Nov 2019 17:07:59 +0000

“Mr. Speaker, in accordance with Section 2 AA [3] of the Government Loans Act 1978, I rise to inform this Honourable House of the execution of a Government Guarantee on behalf of Hotelco Bermuda Holding Ltd, part of the Hotelco International group of companies, in relation to loans to finance the development costs & related expenses associated with the construction of the proposed St Regis Bermuda Hotel in St. George’s. This is indeed a historic project for the tourism industry, the St. George’s community and Bermuda as a whole.”

For a moment I was confused. I thought it was another guarantee for Caroline Bay, but now I see it is COMPLETELY different!