TCI News
Beaches Resort does not owe TCI Gov’t; both sides want multi-million dollar dispute resolved
#TurksandCaicosIslands – January 30, 2019 – Sandals Resort International, SRI, is again speaking out regarding the indefinite closure of Beaches Resort Villages and Spa in 2021 and the issue of a multi-million-dollar figure in dispute between the resort company and the Turks and Caicos Islands Government.
The company last night said they welcome the statement by Premier Sharlene Robinson that the TCI Cabinet is giving the matter full attention.
In a startling twist, the statement by Beaches Resort overnight explained that the Turks and Caicos Tax Department imposed taxes and penalties “at a preposterously crippling rate of 10 percent per month, compounded, which translates to more than 213 percent per annum.”
The statement shared that it was actually a “disregard of the prevailing legally binding agreement in writing” which led to the compounded rate charges and SRI emphasized that, “To the contrary, it is Beaches Resorts that is currently owed many millions of dollars in over paid taxes.”
SRI explains in that press release that the company does not owe the Turks and Caicos Islands Government, that SRI is an exemplary payee and that despite widespread reports and chastisements aimed at Beaches Resort for trying to ‘side-step paying taxes’ to TCIG, that is simply not the case.
“Beaches TCI, has for the past 23 years in which it has operated in the Turks and Caicos Islands, punctually and accurately paid taxes according to law. As a matter of fact, we are first in line to pay our taxes.”
Premier Sharlene Robinson, in a statement on Monday also warned against the accusatory remarks clarifying that ‘it has not been a matter of Beaches avoiding taxes or of the former Governments or Ministers of Finances before me… intentionally leaving this matter unaddressed.”
Premier Robinson added, “I implore those, void of facts, to resist casting wild accusations and unwarranted attacks on elected and public officials and well as Beaches Resort itself.”
Beaches Resort calls this tax matter an “injustice” and said it did find some satisfaction that the Government, led by Premier and Finance Minister Sharlene Robinson, had “undertaken to remedy the egregious wrong but in spite of assurances has been unable to do so for over two years.”
Beaches TCI revealed that it was forced to take legal action against the TCI Government for breaches of the binding agreements.
Still the country’s leader expressed this, “I assure the people of the TCI that this matter will be settled in the very best interest of all the people of the Turks and Caicos Islands. I ask those employees of Beaches, taxi drivers, other hotel operators, airline agents and airline workers who contacted me frantically for representation to know that they are being held in highest consideration.”
Premier Robinson said a lot of work has been vested toward a conclusion on the matter and confirmed that a hand delivered letter was received weeks ago by Government; issued by Beaches Turks and Caicos.
And as these statements come from the two leading entities in this unfolding saga, there is a three-page letter in circulation which paints a concerning picture about Government and Foreign Investor relations. The letter, though authentic in appearance, is an unconfirmed document.
The Premier in her Monday comment said, at the time, she was unable to disclose anything more than her statement explained; adding that she plans to be fully transparent on the issue and will set out the terms as soon as the occasion arises.
Some 50,000 people have read our original story of the ‘indefinite closure of Beaches TCI’ at MagneticMediaTV.com, which was posted on Friday, January 25, 2019.
Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.
Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The
development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.
Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.
Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.
Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.
Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.
The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.
Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of
IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”
He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”
Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”
The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion
Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.
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