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...