Friday, January 30, 2026 
Formal Written Submission for the Senate Record 
In Support of the Lease Agreement Between the Government of the Virgin 
Islands and DM Hospitality, LLC 
Parcels 2C Crystal Gade and a Portion of Parcel 3 Crystal Gade, Queen’s 
Quarter, St. Thomas 
Statement of the Applicant 
My name is Prakash “Pash” Daswani and this is my business partner Giresh 
Mirpuri, we are Members of DM Hospitality, LLC, a limited liability company 
organized and in good standing under the laws of the United States Virgin 
Islands. This submission is provided in support of the proposed lease agreement 
between DM Hospitality, LLC and the Government of the Virgin Islands for 
Parcels 2C Crystal Gade and a portion of Parcel 3 Crystal Gade, located in 
Queen’s Quarter, St. Thomas. 
 
 
 
 
 
 
 
PO Box 1386 
St. Thomas, VI 00804-1386 
Pash@dmvigroup.com 
www.dmvigroup.com 
Office 
1-340-714-5326 
 
Background and Purpose of the Lease 
The subject property is publicly owned and has remained vacant and 
underutilized for an extended period. In its current condition, the property 
does not generate meaningful public benefit and continues to deteriorate 
absent sustained use and investment. 
The purpose of the proposed lease is to allow for the rehabilitation, 
maintenance, and productive use of the property through private 
investment, without reliance on public funding, while preserving government 
ownership and oversight. 
Proposed Use of the Property 
DM Hospitality proposes to rehabilitate the property and utilize it as follows: 
1. Lower Level – Development of a commissary kitchen to support 
centralized food preparation for our coffee shops located at the airport 
and now on Main Street, add cold storage reefers in the parking area, 
and quality control for multiple food and beverage operations 
conducted by the company. 
2. Upper Level – Use as office and administrative space for DM 
Hospitality’s locally operated businesses, including accounting, human 
resources, management, compliance, jewelry management and other 
back-office functions. 
 
This use ensures consistent daily occupancy, operational efficiency, and 
sustained activity at the site. 
 
 
 
 
 
 
 
Investment Commitment 
Pursuant to the lease, DM Hospitality commits to invest no less than Two 
Hundred Fifty Thousand Dollars ($250,000.00) in improvements to the 
property. All improvements will be completed at the sole cost and risk of DM 
Hospitality and in compliance with all applicable zoning, permitting, historic 
preservation, building, safety, and environmental requirements. 
 
Public Benefit and Area Activation 
Activation of the subject property will contribute to the stabilization and 
improvement of the Crystal Gade corridor, an area with recognized historical 
significance but limited recent private investment. Productive use of this 
property will support employment, increase daytime activity, and promote 
responsible stewardship of public assets. 
 
Prior Experience and Performance 
DM Hospitality has previously undertaken similar rehabilitation projects within 
Charlotte Amalie, including the property formerly the Daily News Building on 
Back Street, (See before and after pictures attached) where that underutilized 
properties were restored through us and placed into productive use. These 
projects demonstrate the company’s capacity to execute long-term 
investments responsibly and in coordination with applicable government 
agencies. 
 
 
 
 
 
 
Protections Afforded to the Government 
The proposed lease contains material protections for the Government of the 
Virgin Islands, including but not limited to: 
• 
Reversion of all permanent improvements to the Government upon 
expiration or termination of the lease, without compensation; 
• 
Full responsibility by DM Hospitality for insurance, maintenance, repairs, 
and taxes assessed on improvements; 
• 
Compliance with all applicable laws and regulations; 
• 
Clear default, termination, and enforcement provisions preserving the 
Government’s rights and remedies. 
Conclusion 
The proposed lease provides a mechanism for the revitalization of a dormant 
public 
asset 
through 
private 
investment, 
while 
safeguarding 
the 
Government’s ownership interests and avoiding public expenditure. Based on 
the proposed use, investment commitment, and demonstrated performance, 
DM Hospitality respectfully requests the Legislature’s approval of the lease 
agreement. 
Respectfully submitted, 
 
Pash Daswani & Giresh Mirpuri 
Members, DM Hospitality, LLC 
 
Attachments:  
Before and After pix of what we have done with the old Daily News Building we 
are occupying.  
BEFORE
after
BEFORE
after