Description

The proposed project comprises a greenfield development of a 280-room 5-star hotel in Conakry, Guinea (the “Project”). The Project is implemented by the Guinea-incorporated Palma Guinée S.A. (“Palma Guinea”). Fully owned by the Topaz Group of companies, Palma Guinea has been incorporated specifically to develop and own the Project hotel, which will be operated by Starwood Hotels & Resorts Worldwide, Inc., under the Sheraton brand. The purpose of the Project is to reduce imbalance between supply and demand for quality hotel accommodations in Conakry. At present, Guinea’s capital has no 5-star hotels. This gap in the hospitality market has been hindering travel to Conakry and slowing down the city’s development into an important national and regional business destination. The Project hotel is expected to help change this situation and to become an important part of Conakry’s business infrastructure.