Endless Caribbean - Financial Boost for Tourism Accommodation Owners in Tobago
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Financial Boost for Tourism Accommodation Owners in Tobago

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The Tobago House of Assembly developed a Tourism Accommodation Relief Grant (TARG) to help tourism accommodation owners in Tobago. The 50-million-dollar grant was a timely response to COVID-19 to ensure the longevity of the island’s accommodation. As a result, this grant will be a boost towards Tobago’s tourism sector. And, it will be valuable in ensuring its economic and social recovery post COVID-19.

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In September 2020, the first tranche of grant recipients received half of their funding from the Tobago Tourism Agency Limited (TTAL). At that time, they were 18 successful applications which were approved for funding. The applicants which met the requirements of the funding and who were subsequently approved for the grants included hotels, villas, apartments and guest houses. Consequently, the TTAL was actively engaged in auditing and inspecting the properties.

To be eligible for the grants, tourism accommodation owners in Tobago must possess Trinidad and Tobago Tourism Industry Certification (TTTIC) registration. The application process consists of a series of steps. Below is an outline of the steps in the application process:

  1. Application
  2. Pre-Upgrade Inspection
  3. Legal Agreement
  4. Start of Upgrade Work
  5. Interim Upgrade Inspections
  6. Completion of Upgrade Work
  7. Post Upgrade Inspection
  8. Final Audit

The number of guestrooms on the property determines the funding awards. For example, properties with 2 – 7 rooms will receive up to TTD $100,00; 8 – 50 rooms up to TTD $300,000; 51 – 99 rooms up to TTD $500,000 rooms; and 100 rooms or more up to TTD $600,000. Additionally, owners of bed and breakfasts; self-catering properties; apartments; villas; guesthouses; and hotels are eligible to apply.

Source: TTAL Begins Distribution of $50M Tourism Grant (Tobago Tourism Agency)

Image: Tobago Tourism Agency

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