caribbean
Hilton Opens 11 Hotels, Signs 15 Deals in the Caribbean and Latin America in First Half of 2022
Hilton | August 2, 2022
MCLEAN, Va. – (August 2, 2022) – Leading global hospitality company, Hilton (NYSE: HLT), celebrated the 2022 mid-year mark with continued growth momentum in the Caribbean and Latin America (CALA). From Jan.1 to June 30, 2022, the company welcomed 11 new hotels, growing its CALA portfolio to more than 190 hotels representing nearly 15% of Hilton’s presence outside of the United States. With its aggressive expansion plans, including a pipeline of 105 properties, Hilton’s deep-rooted commitment to development across the region is as strong as ever, as the company expects to open its 200th hotel in CALA by the end of 2022. “We’r...
LAC Profit Pops in Q1 Amid Enduring COVID-19, Inflation Worry
HotStats | May 24, 2022
If it’s not one thing, it’s another—or two or three. The Latin America and Caribbean region is not alone in the hardship exacted by COVID-19 and now added detriments, including high inflation, rising interest rates and labor costs, but the region’s hotels are showing resilience. Like the rest of the world, COVID is not through with the LAC region. As of May 2022, LAC had nearly 1.7 million deaths, which amounts to more than 27% of deaths worldwide, according to the Pan American Health Organization (PAHO). Peru had the highest recorded COVID-19 mortality rate in the region, followed by Brazil, Chile, Argentina, Colombia and Trinidad...
STR: Preliminary Caribbean Hotel Results for Week Ending 28 March
STR | April 2, 2020
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for the Caribbean based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different. The Caribbean hotel industry experienced its steepest year-over-year declines yet in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR. In comparison with the week of 24-30 March 2019, the Caribbean reported the following: Occupancy: -85.9% to 10.6% Average...
2019 in the Caribbean Region: ‘Cause Every Little Thing Gonna Be Alright
Kristina M. D'Amico | September 26, 2019
By Kristina M. D'Amico Strong Year-to-Date Performance, Bolstered by ADR Increases The Caribbean islands have long been established as a popular travel destination for U.S., Canadian, and European travelers. Tourism to the islands is highly dependent upon the availability of transportation. Cruise ships and airlines are responsible for the vast majority of visitor arrivals to the islands, with air service the method of transportation for almost all of the tourists requiring overnight accommodations. Consequently, the availability and caliber of air service to the local airports has had a material influence on the level of tourism to ...
A Practical Introduction to Foreign Hotelier Investment, Management and Operation in Jamaica’s Tourism Market
Michel Morgan | April 12, 2019
By Michel Morgan With recent first quarter 2019 reports showing that Jamaica is the first Caribbean island to welcome 1 million visitors and reach approximately $800 million in foreign exchange earnings within the first 9 weeks of 2019, hospitality industry interests like real estate developers and investors can be assured that Jamaica is maintaining its status as one of the best islands for developing resorts. Indeed, back in 2017 Jamaica's Minister of Tourism, The Honorable Edmund Bartlett, confirmed a 5-year, 5 percent target growth per year goal, which would require bringing 5 million visitors to the island and earning $5 billion fr...
One Year Later: The Rebound of the Caribbean Following the 2017 Hurricane Season
Kristina M. D'Amico | August 16, 2018
By Kristina M. D'Amico It has been one year since the most dynamic, active, and destructive hurricane period hit the Caribbean in decades. Despite the devastating effect to the region, the resiliency of the Caribbean hotel market has been demonstrated particularly well over the last year, spurred by a strong recovery effort and bolstered by an influx of new airlift to the region. Strong Recovery Effort Of the 32 Caribbean island nations, just seven were significantly affected (three quite severely) by the 2017 hurricane season. Significant progress has been made on each of these seven major islands, as follows: Source: HVS Researc...
