.gif)
The Grand Pacific Hotel (GPH), a now derelict landmark from British colonial times in Fiji’s capital Suva, has caught the eye of a foreign investor, after decades of near-miss revival plans.
Fiji National Provident Fund chief executive officer Aisake Taito made the announcement at a press conference yesterday.
“With regards to GPH, we are in discussion with an investor and we will announce the details once finalised,” Taito said.
He also said that the financial performance of Natadola hotel developments had improved.
“The financial performance for the hotel has improved and we are working with the operators, Intercontinental Hotel Group to continue to improve further,” Taito said while announcing a series of reforms at the FNPF.
He said the hotel is becoming a popular destination for international, regional and local events.
Taito added the focus for Natadola is to create value by completing the residential development as well as with the hotel manager to increase the profitability of the hotel.
He said the Club Villas at Natadola will open on May 17, 2011.
“The completion of a survey under a revised master plan is underway and we are now discussing with Native Land Trust Board (NLTB) on the new leasing arrangements and working on a scheme plan for residential lots.”
“We are still doing the technical cost for the villas than we will go into the costing,” Taito said.
Taito further stated that the Momi Hotel development process is still inviting expressions of interest to complete the Momi Stage 1 integrated hotel development which closes on August 27.
By Edwina Chand
