One of the Federation’s oldest boutique hotels, the Ocean Terrace Inn (OTI), has received the backing of the St Kitts and Nevis Sugar Industry Diversification Foundation (SIDF) by way of a loan of five million United States Dollars ($5,000,000US) to TDC which owns OTI. The loan will be used to upgrade the landmark hotel.
The upgrade will include substantial improvements to the hotel plant, infrastructure and amenities and the use of state of the art green technology for energy conservation.
The partnership reflects the confidence of TDC and SIDF in the future of the tourism sector as a key component of the country’s economy.
In making the loan, SIDF is executing one of its purposes of supporting, financing or undertaking the development of new and existing industries, projects or enterprises.