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Sagicor president appeals for more investment in tourism

Published:Monday | December 9, 2013 | 12:35 PM

The president and chief executive officer of Sagicor, Richard Byles, is appealing to Jamaican entrepreneurs to invest in the local tourist industry.

According to Byles, in the past 18 months, his company has invested more than U$50 million in the sector.

However, he says there is a clear need for further development.

Byles was speaking on the weekend during the official opening of the Jewel Paradise Hotel, the third resort of the brand to be opened in Jamaica.

According to Byles, Sagicor’s US$50 million investment in the tourist sector in under two years is a vote of confidence in the local economy.

The new 225-room Jewel Paradise Hotel has pushed to 741 the number of hotel rooms operating under the Jewel brand.

The Tourism Minister Dr Wykeham McNeill, says the nature of the tourism industry dictates that it is approached as a partnership.

He also says Jamaica's tourism sector is performing well mainly because of the unstinting support from committed partners and outstanding team members.


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