An investor has proposed transforming the Jolly Beach property into a Ritz-Carlton resort, Prime Minister Gaston Browne announced Saturday.

Speaking on the Browne and Browne Show, Browne said the project could proceed if the government and investor reach acceptable terms.

“Last week we had an investor who wants to transform Jolly Beach into a Ritz-Carlton,” Browne said. “Provided we get a good deal, it will be a go.”

The prime minister said the government sent the investor a counterproposal Friday and hopes to determine by next week whether an agreement can be reached.

He indicated that the government would closely examine the concessions being requested before approving any deal.

Browne said several major international hotel groups have also expressed interest in Jolly Beach, including Iberostar, Club Med and Marriott.

According to the prime minister, a senior Marriott team is expected to visit Antigua and Barbuda next week to examine Jolly Beach and other potential investments.

He also disclosed that a Chinese investor with access to at least US$200 million for investment purposes has shown interest in the property.

Source: Antigua News Room Investor Proposes Transforming Jolly Beach Into Ritz-Carlton Resort.