Tourism could potentially earn more revenue than rice & sugar - Lake Mainstay Resort director By Desiree Jodah Stabroek News September 18, 2000 Tourism could potentially earn more revenue for Guyana than sugar and rice and it was with this in mind that the over $300 million Lake Mainstay Resort investment was made with the knowledge that returns would come in the long term. Basil Dyal, one of the five directors of Demerara Investment Limited, the company which owns and operates the resort, told Stabroek News recently that while business had been good it could have been better. However, he said, word of the resort and what it has to offer is now spreading and he was optimistic that business would pick up in the near future. The response since the official opening on December 4 last year has been good. According to Dyal, the conference facilities have been doing excellently, with the company enjoying a 90 percent utilisation. Most of the conferences last more than a day which means that the cabins are also occupied. He noted that both local and foreign companies, as well as churches and non-governmental organisations, use the conference facilities. Dyal said that the Lake Mainstay Resort hosts between four to six conferences per month. The desire of other directors Wilfred Jagnarine, Mokesh Daby, Roy and Ronald Bassoo to target Guyanese had worked out well. For July alone there were 1200 "day trippers" [persons spending a day]. Many returning Guyanese also have been frequenting the facilities especially at this time of the year. The company, said Dyal, is launching a massive advertising campaign as it seeks to increase business. Billboards will be installed around the country and over 5,000 posters would be distributed. Some advertising would be done at the Cheddi Jagan International Airport, Timehri and at a location on the West Bank of Demerara. New features at the resort include a pitch and golf course and pedal boats. The resort recently sealed a deal with Guyana Airways 2000 for a package tour from North America for under US$1,000. Speaking on behalf of his fellow directors, Dyal said "we knew this is a long-term investment, but we feel that tourism has a big part to play in the development of Guyana and we at Lake Mainstay want to be a major player. I believe that tourism would soon surpass rice and sugar as a foreign revenue earner and that is why we have made the investment." The businessman noted that the financial institutions in Guyana did not see it fit to grant the resort any financing. He disclosed that one such institution even took a non-refundable $400,000 from the company to process the application for a loan which was not granted. According to Dyal, the "largest tourism investment" in Guyana is assisted financially by relatives and friends of the directors, both local and overseas. "Lake Mainstay Resort is the pride and joy of the Essequibians and all Guyanese and is here to stay with or without the help of financial institutions," declared Dyal. He had only praise for Minister of Trade, Tourism and Industry Geoffrey Da Silva. Dyal noted that Minister Da Silva was "150 percent" behind Mainstay in his determination for the resort to succeed. The director boasted about what he described as an "excellent relationship" with the two Amerindian communities in the area. He said these communities receive potable water from the resort's well, and electricity is provided by the company to the school and health centre. Amerindians and other residents have also benefited from the installation of a telephone booth at Mainstay/Whyaka. Follow the goings-on in Guyana in Guyana Today