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Was Trimart Rendezvous sold to Hoyos?

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Barbados Underground understands the Trimart Rendevous property was purchased by former Chairman of the problem plagued HOPE Incorporated Tony Hoyos. Barbadians should recall during the recent budget presentation delivered by newly minted leader of the opposition Ralph Thorne the HOPE project was heavily criticised for not delivering on its mandate. Thorne’s concern was $60 million paid to the project and only 130 houses built after about 18 months, the objective was to have 5 000 completed. The Prime Minister was reluctantly forced to concede that the HOPE project has issues which are being investigated. In true Mottley style, she promised to report on the matter at some undeclared time. The record shows the current Chairman of Hope Inc is retired Director of Finance William Layne.

The blogmaster is not optimistic Prime Minsiter Mia Mottley will share information to implicate actors involved at HOPE. We also have another promise, this one from leader of the opposition Ralph Thorne to investigate HOPE Inc when he convenes the Public Accounts Committee (PAC). Has the PAC in a post Independence Barbados ever conclude any investigation that resulted in wrongdoers being held accountable?

Do not forget we continue our vigil on the prime minister’s promise of an intervention into the SAVVY on the Bay matter, a promise delivered to citizens (fools) since August 2023.

If it is true that Hoyos has secure ownership of the property at Rendezvous to construct condos – in the interest of transparency – when did he apply and what are the conditions for developing the area from the Planning and Development department (PDD). Is he associated with the sale of the wetlands at Graeme Hall Nature Sanctuary?

Tony Hoyos is known to be the partner of deputy prime minister Santia Bradshaw and one who is perched high in the BLP hierarchy. It is important the public keeps a close watch on politically exposed persons in small Barbados by following the money.

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89 responses to “Was Trimart Rendezvous sold to Hoyos?”

  1. William Skinner Avatar
    William Skinner

    @ TLSN
    Vaccines: Mia and Maloney connected
    Bank giving away money: Mia and Maloney connected. Nobody could have seen this coming.
    We thought that if we were bringing in a bank awashed in cash , we would organize about a half billion to invest in small business so that jobs could be created and some new vibrant economic activity.
    Oh well , we guess that in this poker we are the joker.

  2. BAJE Avatar
    BAJE

    What you better hope is the loan has not been guaranteed by the Government Of Barbados!

    xxxxxxxxxxxx

    IF MY EYES WEREN’T DECEIVING ME WASN’T RYAN STRAUGHN BLP FINANCE MINISTER STANDING IN THE BACKGROUND WHEN WHITE SHADOW MARK MALONEY WAS SIGNING THE LOAN.

    MENTAL SLAVERY AND BLATANT STUPIDITY ARE BOTH ALIIVE ON THE 2X3 ISLAND.

    A WHITE MAN UNDER THE PREVIOUS GOVERNMENT WHO WAS ACCUSED OF MANY ACTS OF CRIMINAL ACTIVITY AND TO BE PROSECUTED IF ELECTED IS THE SAME WHITE MAN WALKING FREE AS A BIRD AND MAKING MORE MONEY UNDER AND WITH HIS GOVERNMENT PROSECUTORS.

    WHILST MOST BLACK PEOPLE ON THE 2X3 ISLAND SUFFER AND CATCHING HELL WITH NO RIOTING OR MASSIVE SHOW OF FORCE ON THE STREET INSTEAD THEY PULL DOWN OR KILL EACH OTHER.

    GOTTA LOVE THE HAITAINS WHETHER ONE AGREES WITH THEM OR NOT.

  3. David Avatar
    David

    Do we have Black Sam businessmen with money in Barbados willing to build networks and take risks like MAM2? Are all of our Black businessmen barefoot and hungry?

    Maloney cementing ties with Nigeria

    By Antoinette Connell

    in The Bahamas

    antoinetteconnell@nationnews.com

    Prominent businessman Mark Maloney has inked a US$90 million deal with Afreximbank that could see the start of the Hyatt Hotel construction later this year.

    He anticipates that once the project starts it should be completed in 18 months to two years and this is based on the loan. In addition, Maloney, the executive chairman of the Maloney Group and a major producer of cement has also linked up with Dangote Industries out of Nigeria in an effort to expand that side of his business.

    Maloney was present at the Afreximbank Annual Meetings and the AfriCaribbean Trade and Investment Forum in Nassau, Bahamas, where he and Gwen Mwaba, Director and Global Head, Trade Finance signed the deal after which president of the bank, Professor Benedict Oramah, spoke briefly on Maloney’s efforts.

    The developer said undertaking the major project was difficult with regional banks unwilling to lend to new projects.

    “It will be the springboard for what we believe is going to be major in the hotel business in Barbados because the regional banks have been hesitant in lending money on greenfield projects, that is new projects. They want to lend money to businesses that have cash flow of existing projects, but for new projects it has been difficult,” he stated.

    It was here that the Pan-African financial development institution came to his rescue.

    “The region doesn’t lack opportunities, it lacks capital and it is challenging when you are doing projects to be able to raise money in the local banking industry and Afreximbank has shown its commitment to the region. Planting its seed in Barbados where it is based also shows Barbados is really the place to be and it signifies the stability of the country’s economy and the opportunity that exists.

    “We have been working with Afreximbank to borrow money for the Hyatt project. They are taking the lead on the debt side which is good and also on our cement business we are looking at growing that business and they have come on and offered us a facility which we negotiated and signed today to help us in growing the cement business regionally and in building our manufacturing plant. We will be manufacturing regionally first in Barbados and Guyana and then expanding on those opportunities,” Maloney stated.

    He said the deal signing in relation to Hyatt would show the banks that there is confidence in lending money to such projects since the Afreximbank was a large financial institution which showed confidence in the region, Barbados and his group of companies.

    “It is the first of many deals that we will be doing with Afreximbank,” he declared.

    His team was working on the legal and finance side putting together the project on the design side.

    “It is a big project and we are committed to getting it going, not that we haven’t been committed because it is a huge project for us and our group and partners that are involved.”

    The Afreximbank facility also allowed him to forge relationships with their other customers explaining that was how he came into contact with Dangote, the largest cement producer in Africa, enabling him to buy raw materials and manufacture out of Barbados rather than buying the product from Turkey as he does now.

    Sustainability

    The Dangote connection will mean sustainability for the regional cement business, Maloney said. He did not say what it meant for prices.

    He stated Guyana was using more cement than Dubai and the region needed to be able to support the market.

    “When you are reliant on another country to manufacture cement for the region, it’s all great when things are good but when there’s volatility in various places in the world and when those supply chains are disrupted by war and by other things, then it leaves us uneasy. So to be able to control our own destiny by being able to control the manufacture and supply of the raw materials is important, and that’s the next step in our cement,” Maloney stated.

    In a “good year” Barbados used about 90 000 tonnes of cement and was close to that, Maloney pointed out.

    “I see it being a bubble that is going to burst because the amount of projects that are in the pipeline that are real – Pendry Hotel, Sandals, Royalton, to name a few. Those are just three hotels that together probably make up over 700 keys. Barbados has 6 000 hotel keys so that’s over ten per cent of what we have already . . . not to mention all the other condominium, housing and infrastructure projects.

    Government, he said, was doing a phenomenal job in its quest to build out the hotel and other industries.

    “Pray that we don’t have a world event that will have a negative impact on our economy and that we’ll be able to see the fruits of all the work that has been put in by the public and private sector to be able to facilitate investment and to be able to achieve the goals that we have for Barbados. There’s no reason that Barbados can’t be the gem of the Caribbean that other people look to come in to set up shop similar to Afreximbank ,” he said.

    Antoinette Connell is in The Bahamas, sponsored by the Afreximbank, covering the bank’s Annual Meetings and the AfriCaribbean Trade and Investment Forum.

    Source: Nation

  4. John A Avatar
    John A

    @ Donna

    Well let us wait and see if the details of the loan are published.

    As for the Bank’s presence here, those that thought this was a credit union type operation coming to help the small man, need to read up on the Banks operations. This is not a small entity by any means. Also read the article closely you will notice the words ” COULD see the project starting.”

  5. Enuff Avatar
    Enuff

    Wow! I’m speechless–the faux outrage, discrimination, racism, whataboutism, lies, conspiracies. All because some on BU are determined to prove that Bdos is a failed state, a 1×1 et etc. In doing so once again exposing their contradictory and disingenuous nature. AFREXIMBANK was not owned by the Bdos government the last time I checked. I’m still looking for Ryan Straughn standing behind Maloney as he signs for the loan. Anyone find Ryan? I’m no fan of Maloney but y’all need to do better.

  6. Donna Avatar
    Donna

    John A,

    To be absolutely clear, as I am sick and tired of being misrepresented, what was in my mind was exactly what was in your mind – a signature committing us as guarantor.

    David,

    We have black businessmen whose operations are limited by lack of opportunity for funding.

    The question for any serious government looking to reverse the legacy of slavery, colonialism and white supremacy should be:

    How do we get black businesses to the point where they can take off?

    We know for a fact that empowerment of the black majority will not happen by working for the usual suspects. And it therefore will not happen as a result of this loan to Maloney.

    And so I ask: All this taxpayer funded work and what did it get us? More of the same – temporary construction work and a few maid jobs.

  7. David Avatar
    David

    @Donna

    It was a bigger point being made, we have black businessmen in Barbados who seem unwilling to take risk to match MAM2.

  8. The OG Avatar
    The OG

    @TLSN
    “No doubt some individuals on both sides of the Atlantic will use the opportunity for a spot of money laundering. ”

    You are seeing it as big as a breadfruit. Go to the head of the class. You can take the rest of the day off.

    I was convinced from the very start that this pivot to Africa was because Donville got his hands caught in the cookie jar. Suddenly US bank accounts and properties lost some of their appeal and a new hiding spot had to be found for ill gotten gain. What a better place than some of the countries in Africa.

    The Cayman Islands half of the Airways deal appears legitimate, but our end is open to questions. In this case, we may be seeing a two-way street.

    I am on corruption watch.

  9. Donna Avatar
    Donna

    David,

    Whatchatalkinabout, Willis? You have to have money to risk! We have people who put themselves out there, start a business and get stuck for lack of capital.

  10. David Avatar
    David

    We are not on the same page Donna. We have Black successful businessmen in Barbados who do not form partnerships to take risks. It does not detract from the substantive point we need to help small black businessmen.

  11. Terence M Blackett Avatar
    Terence M Blackett

    IS BARBADOS BECOMING LIKE SAN SALVADOR BEFORE #NayibBukele??? IS THAT ONCE PROUD NATION BECOMING A FAILED STATE???

    The #Prez of San Salvador turned his nation from a “FAILED STATE” to now the most peaceful country in South America…

    #MaraSalvatrucha, AKA #MS13 ran amuck for donkeys years – “GANGBANGING”, “THIEVING”, “PEDDLING”, “MURDERING” & making people’s lives a living hell – as “YOUNG MEN” were completely out of control!!

    #PrezBukele labelled it “SATANIC” – a controversial statement made by a head of state!!!

    BUKELE took matters into his hands & built “PRISONS” & rounded up those “DIRTY BASTERDS” like “STRAY CATTLE” & “FROG-MARCHED” those “DEVILS” into “JAILS” with organized security – free from “CORRUPTION” & interference!!!

    Today the country is peaceful with exiles moving back to the country due to solid social policies that destroyed “ROOT” & “BRANCH” of the “ORGANIZED CRIME MAFIOSA” that made the country a failed state!!!

    In contrast, look at the “GUN VIOLENCE” in Barbados – some young man killed in Gall Hill & 2 others in a bad way – while these “SENSELESS MURDERS” with our young men dying like “DOGS IN THE STREET” do not raise “SERIOUS ALARM” & “ACTION”!!!

    The #MottleyCrewGOV* seem out of their depth to competently address the issues & the #HOUSE_NIGGAS* on the plantation are content to let them “KILL ONE ANOTHER”!!!

    IS IT NOT TIME TO ROUND UP THESE FILTHY BASTERDS & INCARCERATE THEM LIKE SARDINES UNTIL THEY ARE COMPLETELY BROKEN???

    If these “FOOLS” cannot run the country – is it not time for them to move over & let “THOSE” who are capable (WITH RADICAL IDEAS) to engender the kinda’ “CHANGE” that is needed!!!

    WHAT A DAMNABLE CONDITION

  12. Donna Avatar
    Donna

    Where would the money be made if the Cayman side was legitimate? The money paid to them for empty seats would leave a paper trail. How would the money be siphoned off into undeserved pockets?

  13. David Avatar
    David

    The tourism people in their exuberance tried a ting to increase airlift. It was a stupid decision done without due diligence as you opined Donna. We should be asking why has no one been held accountable as far as promoting excellence is concerned.

  14. John A Avatar
    John A

    @ David

    You also have to ask whose money are some risking? Is it their personal funds or is there a shadow investor that is behind the money?

    Most Business go to the bank for money, but a few have access to other sources of funds. Financing is not a level playing field as many think. Many businesses including some very savvy business people, are blessed with private funding where there is little red tape and hoops to jump through. Hence they can take advantage of opportunites other mere mortals can not, as long as they maintain a good relationship with their private lenders of course.

  15. David Avatar
    David

    @John A

    You are correct, it is called ‘fronting’.

  16. David Avatar
    David

    John A tell us, the loan from the African bank presumably is in US currency? This means it is a foreign liability for Barbados?

  17. Hants Avatar
    Hants

    https://www.afreximbank.com/afreximbanks-annual-meetings-2024-calls-for-africans-across-the-globe-to-unite/

  18. John A Avatar
    John A

    @ David

    It would be interesting to see the conditions of this loan but i doubt we will ever. Certainly the Central Bank would be involved, as a sum like this would have to be registered by the bank on entry. Plus remember once this enters the island it will also go into our USD reserves, so we could brag bout how much we reserves up with loan money again. Secondly the insurance would have to be underwritten locally in Barbados as is the law. Well law at least for most.

    The question is was there a 3rd party guarantee on this loan IN ANY FORM offered by the Barbados Government or any other party, other than the developer? Are there any conditions in the loan that speak to the involvement of the Barbados Government?

    We all know the government wants projects to start quickly, so what is the level if any, of state exposure in the loan? Also did the Government offer the developer any incentives for entering into this loan? So any more duty free cars etc?

    There is way too much we dont know to speculate about it at this stage, so i for one will await more details.

  19. David Avatar
    David

    @John A

    The reply from MAM2 will be Hyatt is a foreign exchange generator.

  20. John A Avatar
    John A

    @ David

    Well seeing that the last Central Bank report had tourism receipts at 18% of Gdp and the World Bank had tourism at 45% of GDP approximately, i guess we will never know.

    The question is how much of what a hotel makes ever enters Barbados? Again not enough data to come to a conclusion. The central bank has to find a way though of reporting tourism in total. In other words formal vs informal revenue. What they report for tourism is grossly understated for many reason as a result.

  21. Donna Avatar
    Donna

    David,

    Exuberance cannot account for what keeps taking place with these new air routes! What are you going to say if the Nigerian route flops?

    Last night I brought up with my twenty year old son the idea of direct flights to Brazil and the Cayman Islands. Even he was able to identify the flaws in the plan.

    There is simply no demand!

    My conclusion is not that there were no shenanigans at our end. My conclusion is that there were shenanigans at BOTH ends.

    I don’t know why it became accepted that the Cayman end was above board!

    My point is that in these matters, “it takes two to tango”! That’s all.

  22. David Avatar
    David

    @Donna

    Do you know for years many have been asking government to explore non traditional air routes particularly to African countries given our heritage, the need to explore new trade markers, a need to create opportunity for Barbadians and others in the region to visit African to become one with the birthplace of our forefathers and so on? Initial projects to make this project a success may fail but it should not deter us.

  23. Artax Avatar
    Artax

    Donna

    Although there are several Barbadians living and working in Cayman, some of whom are married and have children, I don’t believe the numbers were enough to sustain a scheduled direct service between Barbados and Cayman Islands.

    Additionally, Bahamas, Bermuda, Cayman & St. Barthélemy are among the most expensive destinations in the Caribbean region.

    I know Bajans who are members of the Royal Cayman Islands Police Service and have families there. Their children would visit Barbados ‘every now and then,’ preferring the US instead, because it’s much cheaper to travel there.

    GCM is not one of those Caribbean destinations that, under ordinary circumstances, would attract the average traveler on sustained basis, similarly to SLU, SVD, GND or even GUY.

    It was an unsustainable venture.

  24. Enuff Avatar
    Enuff

    I don’t think the Cayman route was about Caymanians. I believe it was seen as a gateway to the western US market with the connecting flights to LA. The initiative did not work and government is correctly pulling it. When you don’t have your own carrier and seeking to expand your flight/markets you try things. Some will flop. Some advertising would have been achieved too. On s side note, anyone see all the free promotion that $50M generating? Everything for Odious Gas is corruption. Like Donna so sensibly asked, if the Cayman Airways side legit, how the deal corrupt?🤣🤣🤣

  25. David Avatar
    David

    @Artax

    The Cayman Airline initiative was also promoted as potentially acting as a gateway for travelers in the northern Caribbean to Barbados and Southern Caribbean?

  26. The OG Avatar
    The OG

    @nit enuff
    The Cayman Islanders had 3 outcomes (1) a loss, (2) break even or (3) make a profit. They also had regulation that brought some transparency into what was done. The transparency minimizes (not eliminates) corruption.

    We do not have that transparency. It has been demonstrated that our guys do not have to make a profit; all they have to do is spend money. Spend money and don’t provide receipts (no transparency).We already know that they are corrupt as hell.

    To be honest, I suspect that there is one Cayman Islanders who got a cut from our boys cut. One Cayman Islanders had to know that this deal was too good to be a honest one.

    Glad I could help. I am now focusing on the African Airline.

  27. The OG Avatar
    The OG

    “My conclusion is not that there were no shenanigans at our end. My conclusion is that there were shenanigans at BOTH ends.”

    I just saw this after I submitted my comment. I will not call you grasshopper, but you have a good nose and insight.

    Getting there.

  28. William Skinner Avatar
    William Skinner

    Barbados and the Caymans are among the most expensive tourism markets in the region. Simple market research would have easily showed that the numbers were just not there . We have a lot of square pegs in round holes managing our tourism. However, we agree that the current Minister of Tourism is perhaps the most knowledgeable one to have held the office. Unfortunately , he is probably surrounded by the normal party hacks and offspring of the priviledged. This has been the modus operandi of both administrations. Right now Grenada is making a big push to get Bajans to visit there and is promoting intra caribbean travel.
    We have been overpriced since the late 70s and it has gotten worst every single year since then.
    The clowns who came here boasting about us being an upmarket destination are offally uninformed. Being expensive does not mean upmarket. Rich people build villas all over the world- its a simple way of avoiding taxes.
    Name the upmarket activities; name the upmarket nightclubs; name the upmarket restaurants; name the upmarket theatres and other cultural products. There are basically none. An overpriced restaurant is not necessarily an upmarket restaurant. As we have said repeatedly , after nearly 70 or more years as a destination, we only have one hotel that is considered to be world class by global tourism standards. And that is sandy Lane. Sandals has the reputation of being the largest privately owned all inclusive product in the world. We have benefited tremendously from its presence . Although that arrangement was far from perfect.
    In , many industry quarters ,an airport without a landing bridge will not be seriously considered an international airport but we get away with it.
    Our industry was built on: cleanliness; ease of getting form point A to B. The plesant disposition of our hotel workers ; and a then extremely low crime rate. It was really our tropical island quaintness and basically well ordered society.
    These featuires were rewarded with an abundance of return visitors and the powerful mouth to mouth referrals.
    We haven’t lost all of our natural charm but we are trying hard to accomplish that. So, rather than brag about hotel corridors and other pie-in- the sky nonsense , and make blunders such as failing to come up with a simple marketing jingle, we need to understand that Dominica, St. Lucia and Grenada are poising serious threats to our market share. We cannot compete with Jamaica and Guyana is considered the worlds leading ecotourism destination.
    Making silly excuses for pure foolishness such as paying a competitor for flying empty planes is inexcusable in such a highly competitive market. However, the administration must be given credit for being able to demonstrate some success in bouncing back from COVID.
    BTW Jamaica bounced back as well and just registered 2 million tourists , for the first time, we think. No one will seriously argue with the world cup effort and no doubt Crop Over, with its hugely badly managed product ,that should be farther along, brings in some change but we need to find a way to capture the country and its culture and uniqueness better than we have been doing for the last forty years or so. it should not be that difficult but if we are going to build a hotel at Oistins , we are certainly missing the point.

  29. The OG Avatar
    The OG

    I see that ‘the A guy’ is also up to speed but prefers to poke and poke instead of swinging for the fence. But that is nature.

  30. The OG Avatar
    The OG

    An excerpt
    “Making silly excuses for pure foolishness such as paying a competitor for flying empty planes is inexcusable in such a highly competitive market. However, the administration must be given credit for being able to demonstrate some success in bouncing back from COVID.”

    Great point followed by a ‘modifier’.
    WS, a great batsman and bowler, excellent all rounder. Will swing for the fence and often makes solid contact, but he starts to poke after hitting a six.

    Can make Theo’s test match team, not the T20 team.

    Enjoy the day WS

  31. William Skinner Avatar
    William Skinner

    @ OG
    Thanks . We’ll take the compliment and hold the the test spot in Theo’s team. Don’t forget we once reached for the the test team and only made 152. Not every century is a century. We made a century and lost $250.00.
    You enjoy the day as well.

  32. David Avatar
    David

    Let’s hold decision makers feet to the fire without the usual innuendo and baseless mouthings. Given how Cayman operates it is unlikely corruption is an issue here.

    https://youtu.be/ySjujV1b9tE

  33. David Avatar
    David

    What are you talking about Enuff? What was the baseless con?

  34. Enuff Avatar
    Enuff

    David

    What?

  35. Donna Avatar
    Donna

    David,

    Regardless of what you say, there has to be a foundation to build on. There must be SOME DEMAND. It will not materialise out of thin air.

  36. Donna Avatar
    Donna

    The OG,

    I will never get where you think I should be, swinging wild in a hit or miss fashion.

    So NO I am not getting there.

    Just stop it!

  37. Donna Avatar
    Donna

    Artax,

    I am aware of all that you stated. And I came to the same conclusions you did.

    And we were both right. Those whose job it was to know, were NOT.

    I am 2 for 2 with NO market research. How could those in the seats be wrong WITH market research?

  38. Cuhdear Bajan Avatar
    Cuhdear Bajan

    Pie in the sky.

  39. Hants Avatar
    Hants

    in the sky.

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