Premier Discusses Redevelopment Of Prospect Reef


The BVI reportedly lost opportunities to host major conferences due to the lack of adequate conferencing facilities Premier, and Minister for Finance, Dr. the Hon. D. Orlando Smith disclosed during the signing of the agreement with the ICA (BVI) Group Corp for the redevelopment of the Prospect Reef Hotel.

In noting the missed chances Hon. Smith said: “We have had occasions where we wanted to have large conferences here in the BVI and had to have them moved to other jurisdictions because of lack of facilities in the Territory,” Hon. Smith said.

The Premier explained that conferencing tourism opportunities was one of the reasons government invested in Prospect Reef. Back in March when the ICA arrangement was mentioned the Premier explained that ICA (BVI) Group Corp was awarded the opportunity to complete the development of Prospect Reef Hotel and that in December 2016 Government signed a Memorandum of Understanding (MOU) with that group. This MOU, Dr. Smith said, sets the framework for progressing with the re-development of Prospect Reef Resort.

During that press conference Hon. Smith announced that Government planned to sign the development agreement with ICA with an aim to begin rebuilding the property to a standard that would attract business and leisure clientele.

He said that along with offering exceptional accommodation for the leisure traveler, Government expects that the hotel will undergo major renovations and improvements aimed at making it a full-service business hotel with proper conference facilities.

“This is important as we want to continue to expand into the business traveler market offering a modern business centre, and conference rooms that meet the highest international standards. This is one of the reasons why reliable internet access throughout the Territory is important,” Hon. Smith announced.

It was also mentioned that the five-member board of directors of the Prospect Reef Management Company Ltd. was reinstituted. The members are: Mrs. Delma Maduro Chairman of the Board, along with directors Mr. Basil “Bobby” Smith, Mr. David Abednego, Mr. David “Allen” O’Neal and Mr. K’nal Thomas.