In this inaugural publication, we have showcased diverse investment opportunities in the growing tourism and hospitality sector in the Caribbean, which is fast becoming the number one global warm weather destination .
Investor confidence in the region is high . We have featured a few of the iconic brands – The Marriott, Hyatt, Four Seasons, the Hilton, Choice Hotels and our own Sandals Resorts, which recently opened new properties and announced plans for new resorts .
We have also highlighted some of the new and expanding airports in the region to cater to greater demand and provide upgraded facilities for visitors
With arrivals and visitor spending up, the CTO and CHTA are upbeat about the future of the sector and anticipate robust growth in 2015 . The region’s premier financial institution, the Caribbean Development Bank, is projecting that regional economies will grow in 2015 with expansions expected in all of its Borrowing Member Countries .
The Caribbean is ripe with investment opportunities . Tourism destinations are seeking investment to build new accommodations including luxury resorts, boutique hotels, Eco and fishing lodges . They also welcome investment for new medical tourism facilities – health care facilities, wellness centers, spas and rehabilitation centers .
Some countries are keen on attracting investment for new theme parks, golf courses, marina projects, ports and cruise terminals while others are seeking joint ventures for heritage tourism facilities, sports tourism projects, art galleries, the film industry and recording studios as well as entertainment establishments . Investment opportunities also exist for new restaurants, cafes and bistros .
We encourage you to explore the vast investment opportunities available . You can count on the support of investment agencies and government departments, which are eager to provide more detailed information on investment proposals and open doors to facilitate new projects that will spur job growth, enhance our tourism products and provide you with an excellent return on investment .
Special thanks to the investment agencies, government departments and companies that provided the advertising support for this publication .
Sandra Ann Baptiste Editor
Message from CHTA President Emil Lee
Few places on earth match the natural beauty, warmth and appeal of the Caribbean . Beyond the lure is a stable region replete with a diverse history, culture and environment which accommodates both some of the youngest and oldest democracies in the world .
Historically, investors have been attracted to the Caribbean’s varied product offerings, its stable business environment, and close proximity to traditional markets and the emerging markets of Latin America . A look at the household brands which populate the region reads like a ‘Who’s Who’ in global tourism . Despite its growing pains, the Caribbean tourism industry continues to expand and diversify .
We are witnessing a robust renewal of investor interest in the region, coming at a time when most destinations are reporting banner years in visitor arrivals and spending .
In preparation for growth many destinations have upgraded airports and public infrastructure . Growth and infrastructure investments are contributing to an
unprecedented increase in airlift to the region . This in turn is fueling added marketing and airlift power to the benefit of prospective and existing investors .
Public-private initiatives at the regional and destination levels are actively addressing those issues which are important to the industry globally… .lowering utility costs, improving the visitor experience, holding the line on taxes, incentivizing investments, and maximizing productivity through investments in our people .
Investors have a friend in the Caribbean Hotel and Tourism Association and its federation of 31 national hotel associations throughout the region, and should consider our organization as an important point of contact when conducting your due diligence .
We are pleased to join with the Caribbean Tourism Organization in producing the 2015 Caribbean Tourism and Hospitality Investment Guide . We invite you to learn more about the incredible opportunities which can be realized from investing in The Caribbean
The Caribbean Hotel & Tourism Association
The Caribbean Hotel & Tourism Association (CHTA) facilitates the full potential of the Caribbean hotel and tourism industry by serving members’ needs and building partnerships in a socially responsible and sustainable manner . CHTA is the voice of the Caribbean hospitality industry for the development of the region in the highly competitive and sophisticated environment of international tourism . CHTA functions as the common denominator for the industry in a region of diverse nationalities, languages and styles, identifying mutual problems and marshaling the resources of the active and allied members to devise solutions CHTA represents all facets of the hospitality industry with more than 600 member hotels and over 300 allied members . For more information please contact us at George@caribbeanhotelandtourism.com or by phone at 305-443-3040 . You can also visit our website: www.CaribbeanHotelandTourism.com
Emil Lee
Message from CTO Chairman Hon. Richard Sealy
I am pleased to introduce you to the Caribbean Tourism and Hospitality Guide 2015 .
Produced in association with our partner, the Caribbean Hotel and Tourism Association (CHTA), this manual is a demonstration of the fact that tourism’s public and private sectors can and must cooperate and collaborate for the good of the region’s primary foreign exchange earner .
The Guide highlights specific investment opportunities in the Caribbean’s tourism and hospitality sector, bringing into a single publication the relevant information that potential investors will require .
I am pleased with the direction in which Caribbean tourism is moving . The strong demand for Caribbean vacations resulted in a record 26 3 million visitors to our shores last year, a 5 .3 per cent rise over the previous year . Together, the visitors spent an estimated US$29 . 5 billion, 5 per cent more than they did in 2013 This is a positive sign for the region, not only because of the record arrivals, but also because tourism income is beginning to keep up with arrivals
This robust showing for the Caribbean was based on the fact that the traditional markets performed well .
From what we have seen thus far, we are optimistic about the industry’s performance in 2015 . Most of our CTO
member countries have reported strong growth in the first three months of the year and this trend is expected to continue .
As our numbers continue to grow, so must our product . Already, hotel brands are making substantial investments and bringing new rooms to the market, indicating rising confidence in the industry . However, we must continue to explore more investment opportunities and to expand even further, while ensuring that the product is the right mix for the region .
Ours is an attractive and desirable destination with a strong, competitive advantage due to our natural resources and authentic experiences . Sustainability is at the heart of what we do, exemplified by the CTO’s purpose, Leading Sustainable Tourism - One Sea, One Voice, One Caribbean .
Our members are building new airports or improving existing ones; we are initiating strategies to separate our cruise terminals from cargo facilities; and tax incentives, which can improve profitability, are designed to attract new businesses These are just some of the measures we are implementing to be more competitive and appealing .
Investing in the Caribbean makes good business sense . We know it and we’re proud to produce a Guide that illustrates it . Together, let’s connect investment dollars with the right opportunities for the greatest returns .
The Caribbean Tourism Organization
The Caribbean Tourism Organization (CTO) is an international development agency, which represents 30 Caribbean countries, and assists them to work towards the development of a sustainable tourism program throughout the region The CTO has its headquarters in Barbados, and marketing offices in London and New York .
The Organization is active in all aspects of tourism development including training, consultancy, research, public relations and wide-ranging promotional activities . For more information or feedback please contact us by telephone at: 212-635-9530 or email: CTOny@caribtourism.com . You can also visit our website: www.CaribbeanTravel.com.
