IFC, a member of the World Bank Group, announced that it will provide $26.5 million in financing to Turgeau Developments S.A. to build a Marriott hotel in Port-au-Prince. The 175-room Marriott hotel is expected to open in 2015 and will offer a complete package of services and amenities. It will create an estimated 300 jobs during construction and more than 200 permanent jobs during operations. 

Digicel Limited, a long-time investor in Haiti, is the sponsor of Turgeau Developments S.A., a special purpose company established for this project. 

“The Marriott brand is synonymous with high quality hospitality,” said Colm Delves, Digicel CEO, “We are glad to help bring this flagship company to Haiti and support the tourism sector, which is one of the government’s priorities. Together with IFC, Digicel is helping rebuild critical business infrastructure needed to attract further foreign investors.” 

According to IFC, the new hotel will be operated in compliance with Marriott’s sustainability criteria and has been designed to promote energy efficiency, life and fire safety, and structural safety. It is the first hotel located in the Turgeau district of Port-au-Prince, which was heavily damaged by the earthquake.

“Haiti has the fundamental conditions for sustainable economic growth, including a competitive workforce, proximity to major markets, and unique cultural and tourist attractions,” said Ary Naim, IFC Representative for Haiti. “With our long-term financing support for this new and important piece of business infrastructure, we are confirming our commitment and confidence in Haiti’s future.”
IFC is syndicating the loan with FMO, the Dutch development bank.