u.s. virgin islands
The U.S. Virgin Islands: An Anticipated Record-Breaking Year
Kristina M. D'Amico | March 16, 2023
By Kristina M. D'Amico After the devasting impacts of Hurricanes Irma and Maria in 2017, the U.S. Virgin Islands, which comprise the islands of St. Thomas, St. John, and St. Croix, faced a significant rebuilding effort to reopen their hotel inventory. As the renovations and reopenings from the 2017 hurricane season were nearing completion, COVID-19 began to affect the islands. However, the U.S. Virgin Islands have a significant competitive advantage over the other islands in the Caribbean because they benefit from U.S. territory status. As a result, the U.S. Virgin Islands avoided the complicated COVID-19 travel restrictions that exist...
U.S. Virgin Islands Hotel Expansion Gets a Boost With New Hotel Development Law
October 24, 2019
CHARLOTTE AMALIE, U.S. Virgin Islands -- Oct. 24, 2019 -- The U.S. Virgin Islands took another in a series of strategic moves to encourage economic development under the leadership of Governor Albert Bryan, Jr. The expanded Hotel Development Bill, No 33-0104, signed into law on Oct. 7 allows hotel developers to channel a percentage of room revenue to finance renovating existing properties and building new hotels. Administered through the U.S. Virgin Islands Economic Development Authority (USVIEDA), the bill was created to encourage and promote economic growth in the Territory and incentivize construction of new hotels and resorts incl...
