Small hoteliers have welcomed the government's
announcement that a special assistance programme will be put in place by next
year to help operators bolster their presence in the tourism market.
Tourism Minister Ed Bartlett announced Sunday that $100 million has been earmarked for loans to small hoteliers.
Chair of the Association of Villas and Apartments Vanna Taylor told RJR News the initiative has been on the table for some time.
"We are happy for it but it was in the making from the previous administration but we're happy that it is available to us at a pretty good rate of 3% ... the other one is the hurricane dean recovery which is 2.5%."
The Hurricane Dean special assistance programme for Small Hoteliers came into effect in February.
That programme has allocated $60 million for properties affected during the passage of the hurricane.
But Miss Taylor said some operators have been challenged by the criteria to access the loans.
Miss Taylor said a lot of hoteliers have sent in applications to the Jamaica National Building Society which is overseeing the programme, and getting the red tape clear so that they can benefit.
The loans are to be used by small properties to undertake product enhancement and upgrading, marketing, administrative and operational improvements.
The entities that will qualify for the assistance are properties that offer between 10 and 100 rooms, villas as well as small attractions.
Each facility will receive a maximum of $3 million repayable over a 60-month period at 3% interest per annum.
Tourism Minister Ed Bartlett announced Sunday that $100 million has been earmarked for loans to small hoteliers.
Chair of the Association of Villas and Apartments Vanna Taylor told RJR News the initiative has been on the table for some time.
"We are happy for it but it was in the making from the previous administration but we're happy that it is available to us at a pretty good rate of 3% ... the other one is the hurricane dean recovery which is 2.5%."
The Hurricane Dean special assistance programme for Small Hoteliers came into effect in February.
That programme has allocated $60 million for properties affected during the passage of the hurricane.
But Miss Taylor said some operators have been challenged by the criteria to access the loans.
Miss Taylor said a lot of hoteliers have sent in applications to the Jamaica National Building Society which is overseeing the programme, and getting the red tape clear so that they can benefit.
The loans are to be used by small properties to undertake product enhancement and upgrading, marketing, administrative and operational improvements.
The entities that will qualify for the assistance are properties that offer between 10 and 100 rooms, villas as well as small attractions.
Each facility will receive a maximum of $3 million repayable over a 60-month period at 3% interest per annum.
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