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Bids for Prospect Reef Resort Development being evaluated- Premier Wheatley

- said there was a strong response to the Expression of Interest requests
There has been a ‘strong response’ to the Expression of Interest requests for the development of Prospect Reef Resort and bids are currently being evaluated. Photo: VINO/File
Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) stated during his 2nd Annual Territorial Address at Maria’s by the Sea on Tuesday, May 20, 2025, that the redevelopment of Prospect Reef Resort is moving closer to reality. Photo: GIS
Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) stated during his 2nd Annual Territorial Address at Maria’s by the Sea on Tuesday, May 20, 2025, that the redevelopment of Prospect Reef Resort is moving closer to reality. Photo: GIS
The Prospect Reef Hotel and Resort was purchased by the Government of the Virgin Islands for $6 million in 2005. Photo: VINO/File
The Prospect Reef Hotel and Resort was purchased by the Government of the Virgin Islands for $6 million in 2005. Photo: VINO/File
PROSPECT REEF, Tortola, VI- The redevelopment of Prospect Reef Resort is moving closer to reality, Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) has said.

The Government of the Virgin Islands (VI), in January 2025, issued a formal invitation for suitably qualified individuals or firms to express their interest in the long-term development of the Prospect Reef Resort.

The initiative, it had said, aims to transform the site into a world-class facility, enhancing the territory's standing as a premier destination for business and luxury tourism.

“We received a strong response to the Expression of Interest requests, and bids are currently being evaluated,” Premier Wheatley stated during his 2nd Annual Territorial Address at Maria’s by the Sea on Tuesday, May 20, 2025.

'4-star or higher-rated hotel' envisioned

Government previously said it was seeking firms capable of developing, financing, and operating the resort for a minimum of 50 years—a facility meeting or exceeding the standards of a four-star hotel, offering consistently high-quality service and amenities.

“We envision a four-star or higher-rated hotel, with at least 150 rooms and modern conference facilities capable of hosting up to three hundred delegates and offering exceptional service and amenities catering to leisure and business travellers,” Premier Wheatley stated in his Territorial Address.

The Premier added that with the return of all of the territory’s major resorts and escalating demand for accommodation driven by the increase in airlift, there is an opportunity to grow the sector.

“I am therefore pleased that we can move Prospect Reef closer to reality.”

The Prospect Reef Hotel and Resort was purchased by the Government of the Virgin Islands for $6 million in 2005, but plans to have it redeveloped never materialised. It was already in decline when hurricanes Irma and Maria devastated it in 2017.

Premier Wheatley has already said the redevelopment of the facility is a priority for him.

15 Responses to “Bids for Prospect Reef Resort Development being evaluated- Premier Wheatley”

  • BuzzBvi (23/05/2025, 10:29) Like (17) Dislike (1) Reply
    Our fast paced Government "in January 2025, issued a formal invitation for suitably qualified individuals or firms to express their interest in the long-term development of the Prospect Reef Resort".
    And before that after it was stolen from the previous investors? And what of the staff and payment disputes? Secrecy always SECRECY.
    Now you want to steal the title of "Action Man."!!
    20 years in and this project has just been put out for expressions of interest.
    We need to cancel any ideas we have for the airport now before we waste the next 20 years on that too.
    Incinerator, how many years is that? West End Terminal 8 years already and not even a plan. 8 years and we haven't put the windows back in the Admin building.
    Spooners old peoples? Mountain top flattened. That's it. 10 years?
    Greenhouses. $6,000,000 15 years. Food none. Greenhouses none. Flat ground x 2.
    Concerts - Plenty
    Flights - Plenty
    Money - all gone
    Roads - All gone
    Infrastructure - Gone
    Planes - Gone
    Pier Park Docks - gone
    Transparency - opaque
    Secrecy - Top
    Agrilculture - Dominican Republic
    Consultants - Wealthy
    Premiers Advisors - Wealthy and ill informed
    Premier - Killed any chance of progress by saying this is a "priority for him."
    Advisor - is the best and that is why 487 people voted for him.
    • Exactly (23/05/2025, 13:21) Like (7) Dislike (0) Reply
      What outside investor would put their money into it given what happened to the previous investors. Not only prospect but many other examples of outside investors building businesses and as soon as they look profitable goverment and their friends steal them. That's why we can't have anything nice here
  • Eagle Eye (23/05/2025, 10:39) Like (5) Dislike (3) Reply
    Yo killa could have had that place fix up strips.
  • Wellsah (23/05/2025, 11:05) Like (6) Dislike (9) Reply
    an IGY super yacht marina would be the best commercial usage as it will be a niche high end offering and wouldn't overlap with the existing hospitality offerings.
  • Green economy (23/05/2025, 11:26) Like (14) Dislike (2) Reply
    This resort should never have been built due to the total destruction of a healthy mangrove forest protecting the coast. Re-development is a bad investment since the next strong hurricane will destroy what remains there today. Best plan is to remove all the derelict structures and let the mangroves take over. There are much better locations to build a modern 4 start resort in the BVI!!
    • Blind Man (23/05/2025, 13:50) Like (1) Dislike (4) Reply
      @ green economy its because of people like you why we didn't get the 5 star hotel at been island always against development . If you didn't know prospect reef was one of the top hotels in the bvi which was always over booked during the season . The people of these island cant eat mangrove or take them to the supermarket in exchange for food.
  • Blind Man (23/05/2025, 11:31) Like (3) Dislike (0) Reply
    Stop the talking and start with action hurry up and get the deal seal so people can see work going .
  • FOR SALE (23/05/2025, 12:15) Like (15) Dislike (0) Reply
    The government should sell it, they are not in the business of making profitable decisions
  • Bobo Shanti I (23/05/2025, 14:03) Like (6) Dislike (0) Reply
    This all seems like LIES
  • Motels... (23/05/2025, 15:32) Like (3) Dislike (0) Reply
    What we need are motels, with a nice restaurant, S motel $80- 130. daily.. Those 80 - 100 just fans no A/C, Those more up to $130 A/c, Queen side bed showef, small fridge, no cooking, there is a restaurant...We alredy have Maria's by theSea and others in the $200 plus per night, .We need an economy resort...this would be it...50 rooms. Good business..
  • @Blind Man (23/05/2025, 20:34) Like (0) Dislike (0) Reply
    Do you have any idea how important mangroves are? No, didn’t think so.


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