Memorandum of Understanding on Sandals Expected Shortly

Prime Minister Dr the Honourable Keith Rowley, Minister of Planning and Development, the Honourable Camille Robinson-Regis, the Minister of Tourism, the Honourable Shamfa Cudjoe and the Minister in the Office of the Prime Minister and Minister in the Office of the Attorney General and Ministry of Legal Affairs, the Honourable Stuart Young met with a team from Sandals Resorts Inc. led by Mr. Butch Stewart on Wednesday 4^th October, 2017 to continue the conversation with respect to the establishment of a Sandals and Beaches resort in Tobago, the Sandals Golden Grove Tobago Project.

The discussions surrounded the type of structure that the project would follow, i.e. similar to the model that exists for Hilton Trinidad and Hyatt Regency Trinidad, meaning that Government would build the resort and Sandals Resorts Inc. would manage it. Discussions also focused on the timing of the project and the use of private equity investment.

The parties are now working on a Memorandum of Understanding which it is expected will be executed shortly.

The Government is committed to the successful pursuit of a Sandals Golden Grove Tobago resort as the positive effects would be tremendous.

Citizens will continue to be updated with respect to the Sandals Golden Grove Tobago project as and when there is new information available