By Al Edwards, Business Co-ordinatorTHE LONG delayed Beaches Whitehouse Hotel located in the Prime Minister's constituency of East Westmoreland is to receive an injection of US$5 million from hotel magnate Gordon 'Butch' Stewart, chairman of the Sandals Group and Air Jamaica.
This will give him a 15 per cent ownership stake in the 33 acre property with the Government putting much of the rest of the financing. Ground was broken on the 258 room hotel to be valued at US$60 million in 1998 but work was suspended with Mr. Stewart expressing doubt whether he would recoup his investment in a set time frame.
The project is now back on track and completion has been earmarked for next year. The National Investment Bank of Jamaica and BNS Cayman are also believed to be providing financing for the project.
