What we learned at ALIS CALA 2025: Day 2
Strategic Outlook for Caribbean & Latin American Hospitality Investment
May 2025
The debut of ALIS CALA 2025 marked a significant milestone for the hospitality industry in the Caribbean and Latin America. Merging the former CHRIS and HOLA conferences, this unified platform brought together more than 100 hospitality leaders, investors, and developers in Coral Gables, Florida to chart the future of travel and investment across the region.
Horwath HTL was in attendance to capture the trends, strategies, and challenges discussed during the three-day summit. John Fareed, Chairman of Horwath HTL, moderated the high-profile plenary panel titled “Views from the Boardroom – Round One.” This standing-room-only session featured a powerhouse lineup of C-suite leaders, including Jolyon Bulley (CEO, Americas, IHG Hotels & Resorts), Larry Cuculic (President & CEO, BWH Hotels), Sloan Dean (CEO, Remington Hospitality), Gilda Perez-Alvarado (CEO, Orient Express and Group Chief Strategy Officer, Accor), and Keith Pierce (EVP, President of Franchise & Development, Sonesta International Hotels).
Together, they explored macroeconomic pressures, brand innovation, capital deployment, and leadership strategy across the CALA region. Fareed guided a dynamic discussion that blended candor with foresight, prompting panelists to reflect on how today’s decisions will shape the industry’s trajectory in an increasingly complex global environment. titled “CALA Outlook: Executive View from the Top.” This standing-room-only session brought together CEOs and regional heads from major hotel brands to examine macroeconomic forces, deal flow challenges, and brand strategy across the Caribbean and Latin America.
With candid insights and a dynamic exchange of perspectives, the panel addressed how global instability, financing friction, and shifting traveler preferences are reshaping development strategies. Fareed’s thoughtful moderation and strategic framing elevated the conversation, offering attendees a comprehensive and pragmatic outlook on the region’s investment climate., facilitating a robust dialogue among top executives on the outlook for the region and the evolving strategies shaping hospitality investment.
Below is our synthesis of the key takeaways and their implications for hotel stakeholders and decision-makers.
A Market Powered by Resilience and Demand
The Caribbean and Latin America (CALA) have entered a period of sustained recovery and growth. In 2024, the region recorded over 34 million international tourist arrivals, with traditional feeder markets like the United States, Canada, and the UK leading the way. Brazil also emerged as a top-five source market, reflecting the growing intra-regional travel base.
Even as macroeconomic uncertainties – including inflation, elections, and currency fluctuations – shape global travel sentiment, CALA destinations continue to demonstrate resilience. Hotel occupancy and RevPAR remain well above 2019 levels in many destinations, with new records being set in high-performing markets.
Investment Momentum and Strategic Brand Expansion
Major hotel groups are placing long-term bets on the region. Marriott signed 67 deals across CALA in 2024. Hilton expanded into multiple new countries. Hyatt continues to lead in all-inclusive growth, highlighted by its acquisition of Playa Hotels & Resorts. These moves underscore growing brand commitment to both upper-upscale leisure and lifestyle segments.
Developers and brands are increasingly partnering on conversions, repositionings, and mixed-use projects that integrate residential and retail components. Flexible structuring and regional expertise have become essential to moving deals forward in a complex financing environment.
The All-Inclusive Evolution
One of the strongest themes of the conference was the premiumization of the all-inclusive resort model. Today’s offerings emphasize luxury, personalization, and experiential value. Global travelers now associate all-inclusives with quality, service, and convenience. This transformation presents opportunities for new brand entries, repositioning of legacy assets, and differentiation in crowded markets.
Horwath HTL has observed how all-inclusive resorts now achieve stronger brand loyalty, lengthier average stays, and more predictable income streams. From a development and operational standpoint, the model offers high operating leverage – especially when paired with effective cost controls and guest satisfaction measures.
Branded Residences and Mixed-Use Developments
Branded residences were a focal point at ALIS CALA 2025. Integrated developments – such as beachfront resorts with branded villas or condo-hotels – are gaining traction as they provide multiple revenue streams and finance flexibility. Pre-sales can cover up to 65% of project costs in some cases, helping bridge funding gaps in markets with limited traditional debt options.
For brands, the appeal lies in lifecycle engagement and premium positioning. For investors, branded residential offerings de-risk projects and enhance overall returns. This trend is redefining what it means to be a hotel investor and calls for hospitality-focused development models that embrace residential components.
Overcoming Financing Friction
Despite the robust demand outlook, financing remains a primary constraint. Interest rates remain elevated, and regional lenders are cautious. Developers must navigate layered capital stacks that often include senior debt, mezzanine financing, brand support, and presale revenue.
Public-private partnerships, tax incentives, and destination-level infrastructure collaboration are becoming essential tools. Horwath HTL’s experience across the region indicates that successful projects require strategic alignment with stakeholders – including government entities, global brands, and local operators.
Strategic Priorities for the Next Cycle
The tone at ALIS CALA was optimistic, but measured. Market leaders agreed that the next wave of growth will hinge on strategic execution and differentiated product. Among the key strategic priorities highlighted:
- All-Inclusive Excellence: Premiumization and operational discipline must go hand-in-hand.
- Flexible Investment Models: Developers and brands must adapt to limited liquidity and embrace creative structuring.
- Brand-Driven Mixed-Use: Combining hospitality and residential offers strong upside.
- Sustainability and Talent Development: ESG and workforce investment are becoming essential differentiators.
- Destination Collaboration: Infrastructure and policy support from governments remain critical to accelerating deal flow.
Conclusion
The Caribbean and Latin America stand at the forefront of global hospitality investment. The ALIS CALA 2025 conference highlighted both the promise and complexity of building in the region. For hotel brands, developers, and investors, the next cycle will reward innovation, local alignment, and long-term perspective.
At Horwath HTL, we continue to support clients through advisory services grounded in regional expertise and global insights. Whether evaluating a resort opportunity, structuring a branded residential deal, or navigating development strategy, our team is here to help unlock value in the CALA region.
Author
USA Office
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The all-inclusive edge: a smart bet for Caribbean and Central America investors
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Navigating the inevitable reset
The hospitality industry, particularly in the United States, is at an inflection point. Economic indicators are flashing caution, sentiment is softening, and the easy growth of the past few years is giving way to a more sobering reality. At Horwath HTL, we believe this environment is not one to fear – but one to understand and strategically engage with.
Feasibility meets strategy: market-driven hotel development
Hotel development continues to gain momentum. Brands are growing, developers are active, and capital is cautiously finding its way back into the market. But in today’s environment, simple feasibility isn’t enough. Stakeholders need to understand not just whether a project is viable – they need to know how it will affect the competitive landscape, the community, and long-term asset performance. That’s why true feasibility requires an integrated approach – one that combines market impact insight with disciplined valuation and investment foresight.
