PORT OF SPAIN, Trinidad and Tobago — The Government of Trinidad and Tobago has completed a new ownership and management arrangement for the Hilton Trinidad and Conference Centre, with the State retaining ownership of the hotel while Hilton continues to operate the property.

The arrangement was completed through state-owned Evolving Technologies and Enterprise Development Company Limited (e Teck).

Under the new structure, e Teck acquired all issued and outstanding shares of Hilton International Trinidad Limited through a Share Purchase Agreement.

The company has since been renamed HotelTT Asset Management Company Limited, a wholly owned subsidiary of e Teck, which will hold the hotel and land assets on behalf of the State.

Hilton will continue to manage and operate the Hilton Trinidad and Conference Centre under a new Hotel Management Agreement. The company will remain responsible for the hotel’s day-to-day operations, hospitality services, service standards and guest experience.

The new arrangement replaces the previous landlord-and-tenant structure, under which e Teck leased the hotel and property to Hilton International Trinidad Limited.

The Government said it inherited the arrangement as the previous lease approached expiry, with no agreements having been finalised between e Teck and Hilton. It said this left legal, financial and operational matters unresolved, including arrangements for emergency and renovation works at the hotel.

A Deed of Surrender has now formally brought the previous lease arrangement to an end, allowing the new ownership and management structure to take effect.

The Government said the new structure provides continuity for the hotel while keeping the asset under State ownership and oversight.

With the agreements now executed, reservation systems and booking channels will also reopen, allowing local and international guests to make bookings.

Employees of the hotel will remain in their existing positions, with Hilton continuing to manage the property.

The Government said there will be no immediate changes arising from the transaction to employees’ existing duties, reporting arrangements, work schedules, salaries or benefits.

The new Hotel Management Agreement has an initial term of six months, with provision for a further six-month renewal subject to agreement between the parties.

The arrangement will allow e Teck to evaluate the hotel’s longer-term management structure while assessing and prioritising the renovation works required at the property.