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Top bidder for Marriott Hotel passes away
Kaieteur News – American businessman Ramy El-Batrawi, who emerged as the leading bidder for the acquisition of the Guyana Marriott Hotel, has died at the age of 62. El-Batrawi, died on April 23, 2024.
El-Batrawi’s bid of US$90 million stood as the highest offer for the Kingston, Georgetown property, positioning him as the frontrunner in negotiations with the National Industrial and Commercial Investments Limited (NICIL).
In the wake of the businessman’s demise, a close friend of El-Batrawi conveyed heartfelt condolences and support to his grieving wife, Courtney, and the wider community.
Described as a visionary leader, El-Batrawi’s legacy was underscored by his unwavering commitment to the principles espoused in Napoleon Hill’s “Think and Grow Rich,” embodying resilience, perseverance, and the pursuit of dreams against all odds.
The friend said, “While we mourn the loss of a dear friend and colleague, let us also celebrate the legacy that Ramy leaves behind. His spirit will continue to inspire us all to pursue our goals with passion, courage, and an unyielding belief in our own potential. In the coming days, we will gather to honour Ramy’s memory and reflect on the impact he had on each of our lives. Until then, let us hold Courtney and their loved ones close in our thoughts and prayers. For you Ramy, Rest In Peace my friend! Ramy El-Batrawi.”
Since last year, El-Batrawi’s team and NICIL and their lawyers commenced talks to finalize the sale of the Marriott Hotel.
In December 2022, the Government announced that it will be selling the hotel. Negotiations with El-Batrawi and NICIL began in June 2023.
Following the announcement, six companies had submitted their proposals for the hotel. However, in May, the government had informed the bidders that their initial bids were rejected, because the bids were too low and did not reflect the true value of the hotel. Thereafter, four bidders dropped out leaving X, LLC owned by El-Batrawi, and local consortium Integrated Group Guyana Limited, headed by Ravindra Prashad, whose second bid was US$86.1 million, falling short of El-Batrawi’s proposal.
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