The family of a Samoan Cabinet Minister has been forced to put their hotel on the market due to a supposed downturn in the country’s tourism industry.
The Moanalisa Hotel in Vaitele is up for sale for $ST14.4 million.
Newsline Samoa says the Ministry for Revenue Minister Tialavea Tionisio Hunt confirmed the dire situation with the family-owned hotel.
“I started this business with the understanding the tourism industry is thriving. Ten years later, sadly, that is not the case,” Tialavea said.
He added that as soon as he became a Cabinet Minister, his shares were given to his children.
“I sold the construction equipment to my son’s company; my wife and daughter took over ownership of the hotel,” he said.
The Minister said they spent over $ST4 million on the project and this was possible through a loan from Development Bank of Samoa of $ST2.1 million plus a $ST1 million loan from Samoa Commercial Bank and the rest came from their construction company.
“And I regret going into the hotel business; it was the wrong decision. I should’ve built rental homes at the time.”
The 22 room hotel with six villas opened for business in 2009 and was placed on the market January this year.
It has a swimming pool with a restaurant and bar.
The hotel was one of the hotels government approved to accommodate technical officials for the up-coming Pacific Games in July.
But that will still not be enough to stop the sale of Moanalisa Hotel.
