Badal turns sod for 150-room  hotel next to Pegasus Corporate Centre

Feb 20, 2025 News

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Kaieteur News – President Irfaan Ali on Tuesday joined prominent Guyanese businessman and owner of Pegasus Hotel, Robert Badal and his family in turning the sod for the construction of a new 13-storey internationally branded hotel.

The construction of the new five-star hotel which is expected to commence in a few weeks will be located in the compound of the Pegasus Suites and Corporate Centre, Kingston, Georgetown. Speaking of this new investment, Badal said the hotel will consist of 150 rooms and facilities of five-star rating. It will include a lobby, restaurant, an extensive third floor gym overlooking the Atlantic Ocean, a 13^th floor executive lounge overlooking the ocean, and a penthouse sky view overlooking the city skyline among other features. “This project will provide a bridge between the old and the new, literally a bridge between the iconic (Pegasus) and the fabulous,” he noted.

Having opened the US$100 million Pegasus Suites some two and a half years ago, Badal said this new project comes against the backdrop of massive public investments by the government in infrastructure, hospitals, schools among others, complemented by private investments particularly in the oil and gas sector. Through this new investment, he hopes to provide extensive opportunities for employment, economic activity and consumption of local goods and services.

“Thanks to the sound investment policy led by the President, Guyana is now a hub web for investments of all kinds,” he said. The businessman noted that with a number of internationally branded hotels under construction in the country, it does not dissuade them for making this investment. “The reality is that there are attractive investments alternatives which make more economic sense with much better returns,” he added.

Providing a brief history of the iconic Pegasus Hotel, Badal recalled that he had purchased the property in 2009 with no insight into the hotel and hospitality business.

“A totally different business from what I had then, its complexity in all of its forms the 24/7 culture of its operations, the need for immediate and expensive refurbishment as it was built in 1969 with very little improvement over the years were all inhibiting and daunting to meet. The only consolation was the realisation that this iconic property and whatever efforts and investment are needed are well worth it,” he related.

The iconic Pegasus Pool side and Grand Savannah Suite which have been around for years have created generations of memories, from the hosting of birthdays, weddings and wedding receptions to reunions to conferences, this building has seen it all, the owner expressed.

No stranger to capital projects, Badal said for years he has been investing in the development in the country. Briefly he mentioned, “Investments in the poultry sector in 1999 to 2005 of US$15M, investment in rice in 2007 of US$10M, investment in the Pegasus Hotel in 2009 of US$12M, refurbishment of the Pegasus hotel US$10M 2010 to 2012, the Pegasus Suites and Corporate Centre– US$100M in 2022.” A significant feature of the corporate suites investment, he said is the combination of accommodation and corporate offices a strategy not before pursued in this part of the world.”

In congratulating Badal on this achievement and his numerous contributions to Guyana, President Ali said that the businessman is not only making significant investments in the diversification in the country’s economy but also in the expansion of the economy. The Head-of-State said that when Guyanese make these bold steps to invest their resources, to borrow, to play their part in expanding and building this economy for the next generation, the government will do its duty in ensuring their success.

“I want to say that you could have the best policies or the best programmes  of development,  you could have the best incentives, but if you don’t have a private sector that is driven, if you don’t have individuals with vision, an individual with a clarity of thought as to what they want to accomplish then all those policies fall flat and I want to congratulate Mr. Badal and his family for their faith and belief in Guyana , for their faith and belief in this government, for their faith and belief in our economy and for the confidence that they have shown in making yet another bold investment in our country,” he expressed.

According to the President, the Pegasus Hotel is an establishment that has been a major player in the country’s hospitality sector for more than 50 years, and that since its inception from 1969 the Pegasus Hotel has been a household name in Guyana.

“It was the country’s first truly international standard hotel setting the benchmark for our hospitality industry. For decades it remains the most recognisable name in the sector welcoming guest from across the world as a pioneer for international standard hotels in Guyana and its legacy of excellence assures it of a permanent place in the local hospital sector,” he related.

He further said that the Pegasus Corporate Suites is just not a physical structure that has changed the skyline of northern Georgetown but it changed the outlook of the country and where it is heading.

“This building was a statement and is a statement of ambition, it is evident of Guyana’s confidence in its own future and it is a reaffirmation of Pegasus’ place as a leader in the hospitality sector. This rebranding comes at a time of immense transformation to Guyana’s tourism and hospitality sector. The sector is poised for significant growth with several internationally branded hotels being erected across the country,” the President elaborated.

Wishing Badal success in executing the project, the President took time to call on hotel owners and investors to work together in developing an association and see themselves as a collective in representing Guyana and the tourism industry in totality.

(Badal turns sod for 150-room  hotel next to Pegasus Corporate Centre)

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• Guyanese businessman, internationally branded hotel, Pegasus Hotel, President Irfaan Ali, Robert Badal

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