Barbados has a new hotel on the horizon and funding is on its way. The Inter-American Development Bank (IDB) announced they have approved a $55 million loan to finance the construction of the new Four Seasons. Not only that, the new hotel will be environmentally friendly and will adopt international best practice in water conservation and energy efficiency.
IDB states that the construction will also create much-needed jobs on the island, as well as opportunities for small and medium-sized companies that will be engaged as suppliers to the project. Projects for the continued project estimates it will create as many as 724 direct jobs with local small and medium-sized companies – including art and craft vendors – will be able to provide furniture and art and craft items for the hotel, as well as items for the hotel to sell in its gift shop.
Excitingly, it will also create market access for local farmers. The Four Seasons wants to supply high-quality produce for its guest and continue on the path of being environmentally friend. This will also include the hotel utilizing harvested treated rainwater and a hotel grey water for irrigation and in fire suppression system.
This will be a great opportunity for Barbados in terms of the local economy and tourism to the country. Creating a new hotel known famously around the world will hopefully bring a new market of tourist who will contribute to the Barbados travel industry and more.
The $55 million dollar loan from the IDB is supposed to provide long term financing for the entire completion of the project.