Prime Minister Mia Mottley is heralding the arrival of Hilton Grand Vacations (HGV) at The Crane Resort in St Philip as a sign of growth for the island.
The international timeshare company, HGV today officially entered into a timeshare agreement which would see HGV acquire all of The Crane's unsold timeshare inventory for an estimated US$54.6 million over the next three years.
This deal will see Barbados strategically poised as the only HGV timeshare site in the Caribbean.
“You must imagine that for us as a Government this is very welcome news,”Mottley said during a press conference at Government Headquarters.
While happy with the agreement, Mottley said Government would be looking to implement timeshare legislation as that tourism niche area looked set to expand.
Crane Resort owner Paul Doyle said that the deal would see The Crane being able to expand upon its overall 275-room offerings, and noted that this move from HGV showed international investors were still interested in Barbados.
Source: Nation News