From Suva News Came-Good News re:Grand Pacific Hotel Renovations

Things are looking up!

$78m for restoration

FROM shambles to five-star, the restoration of the 97-year-old "Grand Old Lady", the Grand Pacific Hotel will come at a cost of over $78million.

Prime Minister and Finance Minister Commodore Voreqe Bainimarama launched the redevelopment of the project expected to be the largest project in the capital city in the next two and a half years.

The redevelopment of the iconic structure is expected to begin in November and end in the third quarter of 2013 with 113 rooms and a 600-seat state-of-the-art conference facilities.

Project developers are the Papua New Guinea-based Lamana Group and the National Superannuation Fund (NASFUND) of Papua New Guinea and the Fiji National Provident Fund.

"This collaboration between Fiji and Papua New Guinea is a first of its kind," Commodore Bainimarama said.

"It is indicative of the growing economic strength of these two Pacific Island nations."

The major funder will be NASFUND which has a 50 per cent stake in the development with the Lamana Group and FNPF having a 25 per cent stake each.

NASFUND chief executive officer Rod Mitchell said the total budget of the project had not been confirmed but that it would be in excess of 100 million kina, around $78m in Fijian currency.

Mr Mitchell said they expected to get more than 10 per cent return on this investment.

The desire to venture into Fiji followed, Mr Mitchell said, a successful restoration of what is now the Heritage Hotel in the Solomon Islands.

And with the financial crisis around the world, Mr Mitchell said there was no better time to be in the Asia Pacific region where countries did not have the same debt issues as that faced by bigger countries. The redesigning of the GPH has been done by Auckland-based architect Ricky Do of BSW Architects who was also involved in the 2006 design.

Great, now if they could just get some touri$t$...NOT backpackers!

Haven't we heard such plans before?

Best of luck to them anyway.

I wonder where Pago got the idea that Fiji lacks tourists - it sure doesn't, certainly when compared to American Samoa! LOL
But most prefer staying on the beaches to staying in Suva.
As the Grand Pacific is actually quite small, it could still be filled with diplomats and businessmen though.

Hoinara worked for them because there has been a shortage of all types of accommodation since RAMSI arrived. As Suva is the centre for a lot of Pacific-wide initiatives, it should be popular with people on expense accounts.

Is RAMSI ever going to leave the Sollomons???

They're working on it. Hopefully the people on high salaries will all go home, and rents will return nearer to normal. However the locals actually like a few overseas police and army - they feel safer with them to call on. They are becoming much less intrusive.