Reports

HVS Key Takeaways: CHICOS 2017

With U.S. and global attention focused on the Caribbean region following two record-breaking hurricanes that hurled through the region in September, the timing of CHICOS less than two months later opened the door to educated conversations within our industry. Interestingly, the dialog was hardly identifiable with the sensationalist news headlines and misrepresentations in the media that the Caribbean is somehow pulverized, as the 2017 Atlantic hurricane season winds down. Rather, attendees agreed that there is a need to educate the public on the geography of the region, and conversations delved into other directions including lender reactions, new design and code regulations, the effect on investor behaviors and holding periods, operational expenses, and capital improvement opportunities, among others.

By Kristina M. D'Amico, Senior Vice President - Director, Caribbean Region, Miami, HVS

Puerto Rico

Market Pulse: Bermuda, the Host Island for CHICOS 2017

Known for its iconic pink-sand beaches, the island of Bermuda is nestled in the North Atlantic Ocean, just 650 miles east off the coast of North Carolina. Most associate the island as part of the Caribbean, but Bermuda is actually located hundreds of miles to the north. Less than a two-hour flight from New York, Bermuda is an ideal tourist destination with mild temperatures and a unique culture, growing in popularity among younger, experiential travelers and hotel investors.

By Kristina M. D'Amico, Senior Vice President - Director, Caribbean Region, Miami, HVS

Bermuda

Cuba’s New Luxury Hotels Look to Lure Waves of U.S. Tourists | nytimes.com

In Havana’s Parque Central, shady stone benches and graceful palm trees beckon to mojito-sipping tourists and locals gathering to shoot the breeze.

The gathering spot, in the center of town, is surrounded by horse-drawn carriages and long lines of colorful finned-and-chromed 1950s cars. But more utilitarian vehicles have recently begun circling the square: construction equipment transforming old buildings into luxury hotels.

As Cuba’s relationship with the United States grows warmer, real estate redevelopment is heating up, too.

nytimes.com

Cuba

Cuban Tourism Heavily Relies On Canada And USA | tourism-review.com

Cuban tourism authorities announced record number of tourists for the last year. The country welcomed more than 4 million visitors most of them coming from the North America. Dalila Alba González, deputy director of marketing for the Ministry of Tourism (Mintur) reported that Cuban tourism ended the year of 2016 with more than four million visitors for the first time which means an increase of 13% compared to the previous year.

tourism-review.com

Cuba

HVS Market Pulse: Antigua

Antigua, the largest island of the nation of Antigua and Barbuda, is gaining increased presence as an icon of Caribbean tourism and recreation. The island's coastal geography makes it ideal for yachting and sailing, and its deep harbor accommodates massive cruise ships, as well. The opening of the state-of-the-art VC Bird International Airport in 2015 has allowed for even more passenger traffic to Antigua, helping to raise the island's profile among destination markets in the Caribbean.

By Kristina M. D'Amico, Senior Vice President - Director, Caribbean Region, Miami, HVS

Antigua, Antigua and Barbuda