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Ritam Investments: Why we went into our Sheraton Tokoriki venture

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Starwood Hotels & Resorts Worldwide’s global powerhouse Sheraton has expanded its resorts portfolio with the opening of Sheraton Resort & Spa, Tokoriki Island, Fiji.The resort on Amanuca Island is owned by Fijian proprietary company, Ritam Investments Limited, part of the P Meghji Group.The debut of sheraton Resort & Spa, Tokoriki Island, Fiji, marks the Sheraton brand’s eighth property in the Pacifi c region.It is also Starwood’s fourth operating property in Fiji, joining Sheraton Fiji Resort, Sheraton Denarau Villas and The Westin Denarau Island Resort & Spa. “Sheraton continues to grow at a phenomenal pace by leveraging its fi rst-mover advantage,” said Sean Hunt, Regional Vice President, Starwood Hotels & Resorts, Pacifi c. “The opening of Sheraton Resort & Spa, Tokoriki Island, Fiji, not only adds another world-class property to the rapidly expanding Sheraton resorts portfolio, but also strengthens Starwood’s position in the Pacifi c. “Sheraton Resort & Spa, Tokoriki Island, Fiji, will serve as a gathering place for both business and leisure travellers, where they can enjoy all of the brand’s signature amenities and services in an idyllic, beachfront location.” A new chapter Ritam Investments’ director, Romit Meghji, said:“We are delighted to embark on this new chapter with a leading and internationally-recognised hotel company, Starwood Hotels & Resorts.“The Prime Minister, Rear Admiral Voreqe Bainimarama’s government has implemented generous investment incentives to encourage
investment in the local economy. “We are confi dent in the long-term security and growth of the Fijian market and trust that we will reap the rewards of this positive investment climate. “We believe that our new venture will be a great success and a signifi cant boost for the local economy. We have already created around 110 jobs on Tokoriki Island, 51 of which are for members of the local community.”

Feedback: rachnal@fijisun.com.fj


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