Dennise Williams, Staff Reporter
BLYTHE
NEVILLE BLYTHE has big plans to develop the Morgan's Harbour Hotel into a premier tourist destination. The 45-room seaside resort hotel in Kingston was acquired last year by a consortium led by Mr. Blythe. The business is now an associated company of his UGI Group.
"The Port Royal strip can become a gaming and hotel destination," he said. "The rich cultural history of the community alone is enough to sell it as a prime destination."
INVEST IN PORT ROYAL
"I am now putting a package together to attract other investors. It is my dream that one day other investors will invest in Port Royal on the level that I am doing. I see it as an attraction and entertainment destination."
And to further this dream, Mr. Blythe said, "On the 14 acres of land known as Coal Wharf, we will host the inaugural Port Royal Music Festival. We have patented, trademarked and registered the concept. And it is slated to be held in August of this year."
However, in recent times it is not his tourism foray but the future of other businesses held by Mr. Blythe that has captured the headlines.
This follows his announcement last year of his plans for listing part of his business empire on the Jamaica Stock Exchange (JSE).
MAJOR STAKE
"Let me be clear - the UGI Group is not going to become a listed company," he stated. "Now, UGI Group does own a major stake in United General Insurance, but that is just one of 11 companies that we have interests in spanning tourism, finance and real estate. What we are sharing is a stake in United General Insurance. But let me also state that these are forward-looking statements and we haven't committed to a time line."
Mr. Blythe did note that there are also plans to eventually share a stake in his communications company, CVM Communications.
"From day one, it has been my intention to share a stake in my companies with the broader investing community. What is happening with our intention to list on the JSE is not an accident. We are not being forced."
The decision is "part of a very careful plan," he said. "It was never my intention to be the 100 per cent owner. There is room to share and put self behind. When investors combine resources, our companies can become bigger and stronger. I urge my other friends in the business community to follow suit."
