Hilton Sale Process Advances to Expressions of Interest

The Full Story

The Trinidad Guardian reports that Hilton continues to manage the Hilton Trinidad and Conference Centre in St Ann’s under a recently signed agreement. Prime Minister Kamla Persad-Bissessar announced on 13 October that the government planned to seek buyers. Hilton’s role as hotel manager continues while the State, which owns the property through its enterprise structure, considers the sale.

Sources: Trinidad Guardian, 25 Oct ↗

The report says eTeck acquired the shares of Hilton International Trinidad Limited in September and renamed the company HotelTT Asset Management Company Limited. The previous lease ended, and a separate six-month management contract, extendable by another six months, kept the hotel operating. Property analyst Afra Raymond asked what exactly was purchased and at what price, given the State’s existing interest in the land and buildings. His questions are requests for disclosure, not evidence that the transaction was improper.

Sources: Trinidad Guardian, 25 Oct ↗

The paper cites eTeck’s 2023 audited accounts, which carried the hotel property at TT$274 million, and reports a ministerial estimate of roughly TT$400 million in needed capital work. Those figures measure different things and should not be subtracted to calculate a sale profit or loss. The documents that would clarify the public position are the share-purchase price, the management fee and any sale valuation. The expression-of-interest terms published later are described below.

Sources: Trinidad Guardian, 25 Oct ↗

On 30 October, e TecK published separate invitations concerning the shares and assets of HotelTT Asset Management Company Limited and the Magdalena Grand Beach and Golf Resort. Both notices describe non-binding market-sounding exercises, not binding bids, offers to sell or commitments to complete a transaction. They set 29 January 2027 at 2 p.m. Atlantic Standard Time for submissions and 11 January at 4 p.m. for clarification requests.

Sources: e TecK — HotelTT notice, 30 October ↗ · e TecK — Magdalena notice, 30 October ↗