St. Kitts’ single largest investor remains confident; dismisses HTA, CIC claims

February 19, 2013 — St. Kitts’ single largest external investor has dismissed claims by the island’s Hotel and Tourism Association that investor confidence has somehow waned as a result of a Motion of No Confidence that has been sponsored by the Deputy Premier of Nevis and Leader of the Opposition in the National Assembly, Attorney Mr. Mark Anthony Graham Brantley.

Vic De Zen is the principal owner of the Royal St. Kitts Beach Resort Limited (RSKBRL) compound which houses the St. Kitts Marriott Resort on the islands main tourist development site.

A release issued by his company on Tuesday made his position very clear. “Recent media reports from certain officials of the St. Kitts & Nevis Hotel & Tourism Association have suggested that current local political developments are causing a fall off of investor confidence. We [RSKBRL] wish to state for the record that as the largest private investor in the St. Kitts and Nevis tourism sector, Royal St. Kitts Beach Resort Limited (“RSKBRL”) remains confident in St. Kitts & Nevis; its people, its leaders and its economy.”

Mr. De Zen’s statement went on to say, “In spite of media suggestions to the contrary, St. Kitts continues to have our full confidence to make significant investments. The Marriott Resort completed a renovation of its suites in 2012, commenced a total renovation of its hotel rooms in 2013, and is completing a conversion of 108 rooms to Marriott Residences this year. In addition, along with our partners, we have already made deposits on a CT and MRI scanner for deployment in a proposed world-class Medical Tourism Facility which is to be integrated into the Marriott Resort in the near future.”

“As the St. Kitts Marriott Resort & the Royal Beach Casino embarks on its 10th year of operation in St. Kitts, this commemorative anniversary has caused us to reflect upon the significant economic transformation that has been achieved in St. Kitts over the last decade since we first opened our doors. It was the vision to transform the economy from a largely monoculture sugar cane industry, to a mixture of tourism, education and financial services, that attracted RSKBRL’s interest as an investor in the first instance. This vision was introduced to our company and brought to fruition by government leaders who are still in office today. We applaud the resilience and fortitude of our employees, the active partnership of the government representatives, and the support of our customers during this economic transformation, especially during the recent global challenges that our tourism industry has faced.”

“After ten years of business development, and a solid partnership with this country and its people, we are not distracted by local political events of the day. We forge ahead with confidence.”