CHTA: New hotel projects and important investments in the Caribbean

The Caribbean Hotel and Tourism Association (CHTA) has released its highly anticipated Construction and Investment Benchmark Report, offering valuable insights into the region’s thriving hospitality and tourism sector. The report provides detailed profiles of 27 Caribbean destinations and analyses key performance indicators such as occupancy rates, average daily rates and tourism’s contribution to GDP and employment.

Highlights of the construction and investment comparison report include:

A solid portfolio of 50 new hotel projects activated, which will add 19,591 rooms throughout the Caribbean.

29,987 rooms in total at various stages of planning between 2024 and 2028.

Significant investments in infrastructure supporting tourism development, including nine major projects.

A high level of trust from regional and global hotel brands in the Caribbean.

Introduction of new luxury brands in markets such as Saint Lucia, Jamaica and Barbados.

“This comprehensive report demonstrates the Caribbean’s resilience and continued appeal as a world-class tourism destination. Significant investment and high-profile developments demonstrate confidence in our region’s tourism future. This surge in development is not just about quantity, but also about improving the quality and diversity of our offering,” said CHTA Chair Nicola Madden-Greig.

The report provides a broad overview of developments within the region, enabling key players to better forecast infrastructure needs, human capital, required airline seat capacity, and other factors in the decision-making and planning process.

The report highlights the region’s vibrant tourism landscape and its appeal to travelers and investors. By offering insights into new projects, existing and emerging brands, and various market opportunities and attractions, the report serves as a vital tool for industry stakeholders. It also presents a roadmap for sustainable growth in the Caribbean hospitality sector, enabling informed decisions that will shape the future of tourism in the region while fostering economic development.

Drawing on data from industry leaders such as CHTA data partners STR and ForwardKeys, as well as the Caribbean Tourism Organization and the World Travel & Tourism Council, the Construction and Investment Benchmarking Report presents a comprehensive overview of the current state and future prospects of the Caribbean tourism sector.

The full report is available to CHTA members and provides important insights for investors, developers, policymakers and tourism professionals looking to capitalize on opportunities in the changing Caribbean hospitality landscape.

Source: Caribbean Hotel and Tourism Association (CHTA).