TTHTI In Voluntary Windup

After more than 20 years in operation, the T&T Hospitality and Tourism Institute in Chaguaramas has decided to initiate a voluntary closure of the company, due to COVID-19 and a lack of subvention from Government. It says the Institute had closed its doors since March, following Government's decision to close non-essential businesses to limit the spread of the virus. TTHTI says while other institutions continued with online sessions, its core business is 'in-person, hands-on' hospitality skills training, and therefore could not continue its classes. The TTHTI notes that with the likely continued closure of educational establishments until December 31st, it will be unable to effectively generate revenue since its closure in the last five months has already eroded its working capital and stymied the achievement of revenue forecasts. Additionally, the Institute says prior to the Board's decision to permanently close the facility, it dispatched several letters requesting a meeting with the Education Ministry, regarding the withholding of over $13 million in subvention payments since 2017. But the TTHTI says there was no acknowledgement or response to the letters. The Institute says based on the "continued unwillingness" of Government to engage in discussions in the past few years, along with the impact of the global pandemic, it was left with no other choice but to permanently close.