Project Financing for Accommodation & Tourism Services Barbados – Cash In On The Social Media Revolution Now

The Project Financing is a planned expansion by Millennium Investments Ltd., a vertically integrated operator and owner of The Crane Resort, situated on 38 acres in St. Philip, Barbados.

The business risk management model at Millennium indicated (i) construct residential units in Barbados and sell the ownership in fractions to end-users and (ii) to operate the completed rooms as a resort management company. The proposed project is to (i) continue construction at the Company’s existing site, (ii) commence construction at a site owned by the Company and (iii) to acquire new land for continued growth.

The Company is controlled by Mr. W. Paul Doyle, a Canadian national. Logical Lending Solutons Pty. Ltd., Australia has proposed a US$20.0 million Business Loan for its own book, which would be divided into a $10.0 million A-Loan and $10.0 million C-Loan. The project is located in the parish of St. Philip, Barbados.

The proposed Project will help the largest employer in Barbados’ east coast to expand its operations. The following key development impacts are expected for the Project:
Employment: By expanding its construction and room operations, both temporary and permanent employment will increase.
Rural economic development: St Philip is on the relatively undeveloped east coast of Barbados. The Company is the largest single employer in the area and its expansion will increase both direct and indirect employment.

The new development at Whitehaven is planned on what is currently animal grazing land that was acquired on a willing buyer, willing seller basis from the previous owner and which will impose only readily mitigable environmental impacts.