Minister of Land and Legal Affairs Saddam Hosein has defended the Government’s announcement to divest the Magdalena Grand Beach and Golf Resort and Hilton Trinidad, arguing that years of poor management have left both properties in need of significant investment.
Speaking during the budget debate on Monday, he said the Hilton’s condition had deteriorated under the former administration.
“On this side, Mr Speaker, we are very clear: we are going to sell the assets of the Magdalena. We are going to do it. We are going to do it, Mr Speaker. With respect to the Hilton. The Hilton is a beautiful property, one of the most iconic properties we have in Trinidad and Tobago. But over the years, due to bad, poor management by my colleagues opposite, what was happening, Mr Speaker, is that the asset was deteriorating.”
Minister Hosein also criticised the former administration’s handling of proposed upgrades to the Hilton Trinidad, saying plans for a major refurbishment were not backed by financing.
“So while Hilton is actually one of those better-performing industries, Mr Speaker, the investment or the capital expenditure that we have to put into there is about $400 million. About $400 million. And my colleagues opposite know that because there’s a Cabinet Minute dated the 11th of January 2023, where they have one, two, three, four, five Ministers, Stuart Young, Colm Imbert, Paula Gopee-Scoon, Randall Mitchell and Allyson West, and they can’t get it done.”