Managing Hotel Assets: Achieving the 4-Star Standard
e-Teck has a long-standing record as a property management and infrastructure development power-house. The refurbishment of the Hilton Trinidad and Conference Centre and transformation of the Hilton Tobago to the critically acclaimed Magdalena Grand Beach and Golf Resort have maintained and sustained the economic viability of these 4-star hotels as modern, commercially viable spaces.
Our infrastructural upgrades to the Hilton Trinidad Hotel asset in a bid to maintain its 4-star standard coupled with our on-going fiscal oversight of the Hotel’s operations, have yielded results. In the last year alone, e Teck’s revenue (site rental) from Hilton Trinidad Hotel increased by over 25%. We continued this trend of asset transformation with the refurbishment and opening of the Magdalena Grand to 4-star standard in May 2012.
e Teck furthered its investment in the Magdalena Grand in 2013 with the acquisition and refurbishment of the 750 acre, 78-par, 18-hole golf course surrounding the resort.
This hole-in-one move has improved the resort’s service offerings and overall marketability, resulting in a 52% increase in revenue from the hotel. e Teck’s achievements in transforming hotel spaces are significant and undoubtedly contribute to satisfying our company’s mandate of diversifying Trinidad and Tobago’s economy for sustainable development by advancing the non-energy sector, in this case the tourism sector.