British Virgin Islands

Friday, Sep 25, 2020

Gov't Inks Peter Island Redevelopment Deal

Gov't Inks Peter Island Redevelopment Deal

Premier and Minister of Finance, Hon. Andrew Fahie has signed an agreement with Peter Island Limited for the redevelopment of its resort on behalf of the Government and people of the Virgin Islands.
Director of the resort, Mr. David L. Van Andel signed on behalf of Peter Island (2000) Limited.

Premier Fahie said the Government’s support of this redevelopment, signals its commitment to the revitalisation of the Territory’s tourism product and its efforts to create jobs for the people of the Virgin Islands.

“I promised you during the 2020 Budget Address that my Government will work with resorts like Peter Island Resort to return to service in order to accommodate our overnight visitors, which gives an additional boost to our post disaster room stock," Premier Fahie stated.

He dded, "By adding this development, you the people of this Territory can see that we will be much closer to our desired medium-term room stock target of 5,000 as outlined in the 2020 budget. This will further increase the economic activity in the Territory and will benefit all stakeholders in the industry.”

Premier Fahie stated that the role that privately owned resorts like Peter Island have played in the creation of jobs for Virgin Islanders must be appreciated.

“During the construction phase, this development will create approximately 160 local jobs,” the Premier said, adding, “Upon completion, the resort is expected to contribute no less than 50 jobs to the Virgin Islands economy. There will also be internship opportunities for hospitality students which Virgin Islanders majoring in the field can take advantage of,” the Premier stated.

Premier Fahie further added that his Government has championed for all Virgin Islanders to be employed and make meaningful contributions to their establishments of employment. The redevelopment of the resort he stated will empower the people of the Territory to embrace the many opportunities the tourism industry has to offer and garner the experience and develop skills needed to thrive professionally.

The redevelopment of the Peter Island Resort and Spa includes 52 rooms and suites and three villas. The reopening of the hotel’s main sections will be done in December 2021. This development is expected to project $18 to $22 million dollars into the Virgin Islands economy per annum.
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