Browne Eyes Up To $60 Million In Public Funds For Two New Hotels
Treasury funds and investments from public institutions are among the financing options being considered for proposed hotels at Jolly Beach and Yeptons.
By Cory Wayland
The Treasury and three public institutions could be called upon to finance two new hotels under a proposal Prime Minister Gaston Browne says could mobilise up to $60 million for tourism development.
The projects, proposed for Jolly Beach and Yeptons, would each have approximately 150 rooms. Cabinet is expected to discuss the developments on Wednesday, October 28.
Browne identified State Insurance, Social Security and the Antigua and Barbuda Airport Authority as potential sources of financing alongside the Treasury, arguing that the government could assemble the initial funding without relying entirely on foreign investors.
“I can pick up the phone Monday morning and raise $60 million,” he declared, saying the funds could be channelled into a viable investment project.
The Prime Minister outlined possible contributions of between $10 million and $20 million from the Treasury, $10 million from State Insurance, between $10 million and $20 million from Social Security, and $10 million from the Airport Authority.
Those figures would yield between $40 million and $60 million, depending on the amounts ultimately committed.
However, key details about the proposed financing remain unclear, including whether the institutions would lend money to the developments or acquire ownership stakes, and what returns they would expect.
Browne did not indicate whether their governing boards had been approached or whether formal investment assessments had been conducted.
The potential involvement of Social Security also raises questions about how an investment would be structured to protect funds managed on behalf of insured workers, pensioners and other beneficiaries.
The proposal signals the administration’s interest in a greater public-sector role in tourism investment, although the funding arrangements and institutional commitments have yet to be outlined.
Browne said one hotel could be built on land in the Greenfield area at Jolly Beach, with the second proposed for Yeptons.
This story was first published by Antigua News on : antigua.news/2026/10/26/browne-eyes-up-to-usd60-million-in-public-funds-for-two-new-hotels. © 2026 Antigua News. Republication without permission is not allowed.
About the author
Cory Wayland is the Social Media Co-ordinator at Antigua.News, where he manages digital content strategy, audience engagement, and real-time news publications across social platforms. With a keen eye for trending topics and a commitment to factual storytelling, Cory plays a key role in shaping the online voice of Antigua.News.
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