Guardian Media obtained invoices showing that the Telecommunications Services of Trinidad and Tobago billed $436,081 for a three-day executive retreat in Tobago from January 16 to 18, 2026. Eleven executives attended. Acting CEO Keino Cox stayed in the King Suite at $1,961 per night.
A second invoice, for $180,680, covered boat tours, bar service, and catering at No Man's Land beach.
TSTT reported an $82.2 million loss for the year ended March 2025. Its workers remain on 2013 salary levels.
The Denial That Isn't
TSTT's response to the Guardian's reporting was to claim the figures were "overstated by approximately 60%." The company did not provide actual numbers. It did not release the invoices. It did not name a lower figure. "Approximately 60% less" than $436,081 is still approximately $174,000 for a three-day retreat for eleven people - a number that would itself raise questions at a company reporting eight-figure losses.
The Communications Workers' Union, which represents TSTT's workforce, responded by threatening to "bust more files." This suggests the retreat spending is not the only expenditure the union considers problematic - and that the union has access to additional documentation it has not yet released.
The Oversight Vacuum
TSTT is a state-owned company. Its parent is National Enterprises Limited, which holds the government's shares. When asked about the retreat spending, NEL told shareholders it "does not get involved in the operational aspect" of its subsidiaries.
This is a remarkable statement. NEL exists to provide oversight of the government's commercial investments. If it does not involve itself in operations - including executive spending decisions at a loss-making entity - then who does? The relevant line minister has not publicly responded to the retreat revelations. The board that approved the spending, or failed to prevent it, has not been publicly identified.
The result is a state-owned company losing $82 million per year, with no published explanation of how executive compensation and discretionary spending contribute to that loss, overseen by a parent company that says oversight is not its role, and a minister who has not commented.
$82 Million in Context
TSTT has been struggling for years. Competition from Digicel and bmobile eroded its market position in mobile services. Its landline business has declined with the broader shift to mobile and internet-based communication. Revenue has fallen while fixed costs - including a large workforce inherited from the era when TSTT was a monopoly - have remained.
An $82 million loss at a company of TSTT's scale is serious but not necessarily fatal if there is a credible restructuring plan. The question is whether leadership spending $436,000 on a Tobago retreat - or even $174,000, by their own reduced estimate - during a loss year suggests the discipline required for a turnaround is present.
Workers on 2013 salaries have not received adjustments in over a decade. In the same period, the cost of living in Trinidad and Tobago has risen significantly. These workers are being asked to accept stagnant compensation while executives spend more on a three-day retreat than many of them earn in a year.
What We Do Not Know
The full picture requires information that is not in the public domain. What is the total executive compensation bill at TSTT? How does it compare to the $82 million loss? What other discretionary spending occurred in the same fiscal year? Were competitive bids sought for the retreat venue and services?
The CWU's threat to release additional documents suggests there is more. Whether the union follows through, or whether the threat is a bargaining tactic in ongoing labour negotiations, remains to be seen.
What is already clear is that the governance framework around TSTT has failed. A company does not lose $82 million, freeze worker salaries for a decade, and spend six figures on a retreat without something being structurally wrong with oversight. The question is not whether the retreat was appropriate - at a profitable, well-run company, executive retreats are routine. The question is whether anyone in the chain of accountability - the board, NEL, the minister - asked whether this spending was appropriate for a company in TSTT's financial condition.
If nobody asked, the retreat is a symptom. If somebody asked and approved it anyway, it is something else.