FALMOUTH, TRELAWNY - Spanish investors, the Excellent Group, have put their multimillion dollar hotel development at Oyster Bay, near Rock in this north coast town on hold, citing the recession in the United States and the high cost of construction in Jamaica.

"The main issue is the recession in the United States which is about 90 per cent of the reason," said Rafael Matas Riera, the group's corporate representative in Jamaica, noting that the Excellent Group depends heavily on the North American market for business.

He argued that if the recession in the US continues for a protracted period, then the company will have to make "a decision".

"But for the moment we don't expected it to be any long time but we just have to wait and see why happens," he told the Observer Monday.

He added however, that the Excellent Group is optimistic that the project will resume within the next 12 to 18 months.
In the meantime, Riera said the group would be applying to the Trelawny Parish Council and the relevant government agencies for permits to change aspects of the project, in an effort to make it much more appealing.

"The number of rooms, however, will remain the same," he stressed.

Construction of the 2,195 room hotel on the 200 acre property, named Excellence Oyster Bay, began last June and was scheduled for completion within the next five years. The project, which was being undertaken in four phases, at various times employed up to 350 persons. The first phase consisting if 350 rooms was scheduled for completion next June.

But in March, roughly 330 of those employees were sent home when the group virtually shut down the construction site, located some four miles east of Falmouth, and in close proximity to FDR Pebbles and the Starfish Resort.

Riera told the Observer that some persons are still working at the property, and would continue to so over the next six months.

"Some of them will be working on the sewage project, while other are working on the staff accommodation and water tanks, " he said.

Member of parliament for North Trelawny, Dr Patrick Harris could not be reached for a comment, but the Jamaica Labour Party (JLP) caretaker, Dennis Meadows expressed regret at the decision.

"It is really a blow to the Trelawny economy because we were looking forward for at least 3,000 jobs being provided from that investment over the next five years, so this will certainly be a setback," he said.

Good support in Bounty Hall for Heineken's 'Bond' road show

Opera star to sing for the Ward

This is the century for the person of colour — Judge Joe Brown