Remington Hospitality takes over management of Aruna Resort Villas in Ambergris Caye, Belize, as part of its strategy to grow its independent and boutique portfolio across the CALA region.
Meliá exits management and brand licensing for 15 Cuban hotels, citing deteriorating geopolitical, legal, and energy conditions, with most properties already non-operational.
The Saint Lucian hotel group joins CHTA's regional fundraising effort to help Jamaica's small tourism businesses recover from Hurricane Melissa damage.
The three resorts will reopen in late 2026 with new accommodations, pools, dining concepts, and arrival experiences after Hurricane Melissa damage assessment.
The 650-room resort will open in 2029 as part of Hyatt's expansion in Dominican Republic, adding to 150+ all-inclusive properties across the region.
Five Royalton properties in Jamaica will remain closed until August-September 2026 following Hurricane Melissa damage, with 200+ staff retained for restoration work.
RIU mobilizes $1M in employee aid and partners with airlines to restore operations across seven properties totaling 4,000+ rooms after Hurricane Melissa.
The Hotel Development and Finance Program Act (HDA) is a program created by the U.S. Virgin Islands (USVI) government through its Virgin Islands Economic Development Authority (USVIEDA). The USVI is a territory of the United States located in the Caribbean Basin and includes the four main islands of St. Thomas, St. John, St. Croix, and the smaller Water Island, as well as dozens of other minor islands. To be eligible for HDA benefits, a project must be located on one of the four named islands.The first benefit available through the HDA is the hotel occupancy tax (HOT) rebate. Hotel guests on the Islands are currently charged a 12.5% tax on rooms revenue, and investors can apply to receive an annual rebate of half or all of that tax for up to 30 years.Another incentive available to properties with a gaming operation is the Designated Casino Tax rebate. Properties that generate revenues through gambling offerings are subject to taxes of 8.0% of gross revenues from gaming operations in years one and two, 10.0% in years three and four, and 12.0% thereafter. Similar to the HOT, investors can apply for a rebate of either half of the casino tax or the full amount for up to 30 years.The third component of the HDA is the Economic Recovery Fee (ERF). The ERF incentive was added to the HDA following the particularly devastating impacts of Hurricanes Irma and Maria in 2017. Investors can apply to have an ERF tax (up to 7.5% of rooms revenue) added to their property’s guest bills. This tax would then be returned to the investor annually as a rebate for up to 30 years.These incentives are intended to offset development costs (including redevelopment, renovation, and new construction) incurred by investors in hospitality projects (largely hotels and resorts) on the Islands that are oriented towards tourists and visitors. Thus, the HOT, Designated Casino Tax, and/or ERF benefits will expire after either ownership’s recoupment of the property’s development costs (excluding operating costs and owner-funded capital improvements after the initial investment), or a maximum period of 30 years.
Meliá Hotels International has announced the expansion of its INNSiDE by Meliá brand in the Dominican Republic, which is deemed a strategic destination for the company. The plan includes the opening of two new establishments in Punta Cana. Notably, these will be Meliá's first franchised hotels in the Caribbean, marking a significant milestone in the group's regional expansion.
The leading luxury resort Baha Mar announces expansion plans to add a 4th luxury resort as the next phase of its continued development. The new resort and residences will be a stunning addition to Baha Mar’s “luxury of choice” collection, with a projected opening in 2029. Today Baha Mar and the government of The Bahamas have signed their Heads of Agreement signaling the approval to move the project forward to construction.
Sonesta International Hotels Corporation (Sonesta) today announced the execution of a deal to open five Sonesta ES Suites hotels in the Dominican Republic. The first property, Sonesta ES Suites ELEMENTS Jarabacoa, is scheduled to open in the first trimester of 2026 with the remaining four hotels to be completed within seven years.
Sonesta International Hotels Corporation (Sonesta) today announced plans for Larimar City & Resort, a new multi-use development that marks the company's entry in the Dominican Republic. Anchoring this development will be new Royal Sonesta and James hotels, two of Sonesta’s luxury and lifestyle brands.
Meliá Hotels International continues to boost its presence in Cuba, committed to improving the destination's value proposition, introducing new brands and lifestyle concepts to take guest experience to a higher level. The group has expressed its intentions this week at tourism fair Fitcuba, where Vice President and CEO, Gabriel Escarrer, announced the new projects of the company, which is now the leading hotel chain in Cuba and throughout the Caribbean. We have no doubt that Cuba will recover to pre-crisis levels and will be in a better state than ever before - Escarrer said -. For this reason, it is essential for us to continue improving our portfolio of hotels on the island, promoting new quality experiences in line with an increasingly demanding demand. At the end of 2022, the island had welcomed 4,5 times more international visitors than in 2021 and over 3.5 million are expected to visit in 2023.
Leading global hospitality company, Hilton (NYSE: HLT) announced plans to more than double its portfolio in Puerto Rico, a destination that already represents Hilton’s largest collection of hotels in the Caribbean, with seven existing properties encompassing more than 2,350 rooms across four of Hilton’s industry-leading brands. Hilton’s pipeline of hotels under development in Puerto Rico also represents the largest of Hilton’s Caribbean growth markets by number of hotels.
Aimbridge Hospitality announces that it will open two new resorts at Frenchman’s Reef in St. Thomas, as part of an extensive $350 million rebuild project on the property. The two resorts, including The Westin Beach Resort & Spa at Frenchman’s Reef and The Seaborn at Frenchman’s Reef, Autograph Collection, are expected to open in the Fall of 2022.
Marriott International, Inc. today announced it has signed an agreement with Cotton Bay Holdings to introduce a Ritz-Carlton Reserve on the island of Eleuthera in the Bahamas. A highly personalized leisure experience that blends intuitive service with local design and stunning natural landscapes, the resort joins an exclusive collection of only five Ritz-Carlton Reserve properties around the world.
Last week, Meliá Hotels International, in joint venture with Falcon's Beyond Global, has announced extensive plans to build and develop a world-class theme park, Katmandu™, slated to open fall 2022 in Punta Cana, Dominican Republic, and a premier entertainment, dining, and retail destination.
Olympus Ventures, the family office of Richard M. Schulze, Founder and Chairman Emeritus of Best Buy and one of the world's foremost entrepreneurs, has acquired ownership of The Resorts & Residences by CuisinArt, which encompasses CuisinArt Golf Resort & Spa and The Reef by CuisinArt.
Archipelago International, Southeast Asia's largest privately owned and independent hotel operator, today announced that it has been awarded the management contracts for a further two hotels in Cuba. The first of these is the iconic Panorama Hotel in Havana. To be rebranded as the ASTON Panorama Hotel, the property, which first opened its doors in 2002, comprises 320 rooms and is best known for its impressive architectural design and superb location, facing the sea in the city's Miramar district.
Wyndham Hotels & Resorts, the largest hotel franchise company in the world, shows great progress as it continues to expand its hotel portfolio, reaching the Caribbean for the first time through the Dominican development company "PROFUSION GROUP".