Horwath HTL’s Andrew Cohan Moderates Panel at First Costa Rica Sustainable Hotel & Tourism Investment Conference; Topics include Development and Investment Opportunities

By On 07th December 2017

November 29, 2017 – Joined by executives in hotel brand development, architecture and design, law firms and hotel management companies, Horwath HTL Miami Managing Director Andrew Cohan moderated a dynamic and insightful panel at the Costa Rica Sustainable Hotel & Tourism Investment Conference (http://www.sahic.com/costa-rica/en/home/) which was held November 13-14 at the InterContinental in San Jose, Costa Rica. As a seasoned advisor for developers of projects in South Florida, Central America, Mexico and the Caribbean, Cohan facilitated a discussion aimed to inform interested parties of how the investment community views sustainability, as well as trends that have appeared in Central America, such as financing smaller-scale eco-resorts and wellness-focused lodging accommodations.

 The discussion focused on investment and development opportunities with some of the region’s major market participants. Cohan’s panel included:

  • Louis Alicea, C.H.A, Senior Director, Development Latin America & Caribbean, Wyndham Hotel Group;
  • Karim Alibhai, Founder & Principal, Gencom Real Estate Services Corporation;
  • Carlos J. Hernandez Garcia, Chief Executive Officer, Pellas Development;
  • Hermes Navarro del Valle, Investment & Attractions Coordinator, ICT

Key takeaways from the panel included the positive outlook for the future of Costa Rica, the addition of new developments in the region, and the many attractions that the country offers tourists. Hermes Navarro shared his insights on the current state of the country: “We are very positive for the future of Costa Rica. In the coming year, we will be announcing the addition of new airlines and two new airports, along with an increase in the capacity of hotel rooms. Our sustainable developments are not only for us, but for our future generations.”

Carlos Hernandez commented that while North American investment sources do not routinely ask for documentation of a project’s sustainability credentials, several Asian funding sources have begun to make such inquiries.  The panel also addressed the difficulties of raising smaller capital amounts for smaller projects. Though it may not be intuitive, these $5 million to $15 million projects can produce thinner margins and be perceived as higher risk than institutional investments five times larger in scale, but backed by experienced sponsors, brands and operators.  Many ecologically sensitive areas cannot accommodate large-scale development or do not have the existing air-lift to support large numbers of hotel rooms, but such intimate properties sometimes offer the most intense interaction with the surrounding natural environment.  It can be difficult to find investors who are committed to this segment of the market.

For more information about resort development, hospitality development planning, and wellness and sustainability enhancements, contact Andrew Cohan at acohan@horwathhtl.com or at (305) 606-2898. For more information about the Costa Rica Sustainable Hotel & Tourism Investment Conference, visit http://www.sahic.com/costa-rica/es/porque-costa-rica

And to learn more about Andrew Cohan and how his expertise can benefit your development project, visit http://horwathhtl.com/contact/consultant-profiles/

 

 

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