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Prospect Reef receives $261K to pay off workers, settle debts

What remains of the Prospect Reef Resort on Tortola. (Photo Credit: Esther Durand/BVI News)

A report from the 2018 deliberations of the Standing Finance Committee has said a grant of more than $200,000 has, or is being dumped into the state-owned Prospect Reef Resort.

According to the report, the $261,000 grant is being channelled through the Office of the Premier.

Finance and Planning Officer in the Premier’s Office, Jamal Jones said the funds are being used to pay severance to employees and to settle outstanding bills management at the government-owned resort had incurred.

Jones made the disclosure during a recent appearance before the Standing Finance Committee.

Multimillion re-development project to still happen

This report follows Premier Dr D Orlando Smith’s announcement that ICA (BVI) Group Corporation still plans on funding the redevelopment of the run-down and now hurricane-ravaged resort.

During a media conference back in February, Dr Smith said his government was “having discussions with them (ICA) to finalise the agreement”.

The company had signed an estimated $90 million redevelopment deal with government back in July 2017.

A government media release had said the components of the redevelopment include the construction of 150 rooms, condos/townhouses, a marina, conference centre, and parking lots.

There will also be a dolphin attraction, infinity pool, saltwater pool, and villas, the release said.

The project is promising employment in the hundreds — a prospect largely welcomed now more than ever since the territory is operating with a hurricane-battered economy.

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16 Comments

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  1. free the dolphins says:

    but why keep the dolphins, this is so against natures little secret and the image that the BVI wants to project. Let the poor creatures be released (or at least don’t bring any more in).

    29+

    • llepage says:

      agree 1000%! please use this opportunity to terminate the relationship with the Dolphin Discovery people

      5+

  2. Albion says:

    Boy, the whole of the Government’s involvement in Prospect Reef has been a complete shambles. Everything has just been left unused and rotted away, at great expense to the taxpayer.

    26+

    • Concerned says:

      What has the government touched that has not been a complete shables/disaster??? Green houses,Pier Park, Pier, CURRENT airport, no fly airline, sewers, roads, retaining walls…………….

      13+

  3. more info please says:

    Who or what are ICA (BVI) Group? And what is the $90 million deal for? Is this their promised investment into the the resort? Or is this s figure made up from this investment plus undisclosed government grants, financing deals etc.?

    We really need to know a bit more of what’s ehind these headline figures, and who is involved.

    And bring back the dolphins after nature has already seen fit to release them once is not a move forward, but a move backwards. They are all sourced from an abhorrent industry.

    14+

  4. Kenneth Dreger says:

    My first question is : Why does the Government own a resort? Doesn’t that compete with the private sector??? Confused…..

    12+

    • Brad Boynes says:

      They want to make it look like they are being
      Innovative and progressive but they are faltering at every turn. It’s really sickening now.

      14+

      • No it wasnt says:

        It was to do with the R———— taking our Government’s money for their own private benefit to pretend it wasn’t insolvent and needing to be sold.

        Its a prime example of why we are held back and there are too few opportunities. ICA is an enterprise famous for being backed by Saudis and failing to deliver projects. Ever heard of government going with the left field option and it falling on its face (after kickbacks and consulting fees)?

        3+

  5. Sam the man says:

    The Government bought Prospect Reef even though it was one of the worst run resorts in the Caribbean – after they took it over at vast expense (inc all the facilitation fees -wink wink!) They certainly made a difference and accelerated it to the position of one of the worst resorts in the world ! It makes Butlins at Skegness seem like a VIP Sandals resort! More wasted money and zero accountability…..

    20+

    • Lodger says:

      I worked there summer of 1956 before going to college. It was pretty basic but people seemed to enjoy themselves. Pre overseas package holidays of course.

      3+

  6. NO DOLPHINS says:

    Don’t let them open a dolphin attraction again. The whole world is moving away from abusing animals for entertainment purposes. Let’s not be the one country that does not care about animals!

    17+

  7. Rubber Duck says:

    The lack of a beach is a problem.

    2+

  8. LOL says:

    Explain Redevelopment deal to me please. So this company is spending 90 million to redevelop the property and then we the taxpayer have to pay them back. 90 million spend on we don’t know what? Smells pretty rotten to me.

    6+

  9. hmmm says:

    Dear Irma

    Thanks for destroying Prospect Reef…It was a major embarrassment.

    How in the world could government be promoting tourism and they owned and operated the most horrible EYE SORE of a hotel in the entire Virgin Islands.

    5+

  10. Maggie says:

    Prospect Reef ’hotel’ was a dump even before the hurricanes.
    When the Princess Royal’s staff were accommodated there few years back, they complained!

    The government should sell the land to people who know how to build and run a hotel.

    Decide whether it is a good though inexpensive place to stay or something slightly better.KNOW YOUR TARGET MARKET!

    Five star it will never be but here is an opportunity to do something right or it could become yet another location to dump heavy machinery.

    1+

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