The Tobago House of Assembly (THA) has announced the sale of Sanctuary Villas in Black Rock, a property purchased for $24 million twelve years ago. The property was originally acquired alongside Manta Lodge in Speyside for a combined price of $32 million. While Manta Lodge underwent renovation and reopened in 2023, Sanctuary Villas remains non-operational and deteriorated.
Sanctuary Villas, which comprises 9 furnished villas with private pools, is currently overgrown and derelict. In 2020, former Chief Secretary Ancil Dennis estimated a hefty $60 million refurbishment cost to restore the property.
The Eco-Industrial Development Company of Tobago (E-IDCOT) is managing the sale process. They have invited expressions of interest and opened various options including sale, public-private partnerships, long-term lease, joint ventures, and special-purpose arrangements. The process will involve an online information session on April 1, a site visit on April 8, and a submissions deadline on May 1.
Despite the property’s current state, Dennis views the sale as viable and a potential opportunity to operationalise the property. He maintains that the original purchase was justified, as tourism investments are long-term and can generate jobs, foreign exchange, and increased room stock with proper management.
However, the sale has sparked criticism from Reginald MacLean, the President of the Tobago Hotel and Tourism Association. He argues that the country has a poor track record in managing hotels and that the government should focus more on marketing tourism rather than property ownership. MacLean also suggests that Trinidad and Tobago needs significant investment in tourism marketing, rather than prioritising oil and gas.
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