Market Report: Caribbean
By Daniel Stockhammer on September 18, 2019
This Caribbean market report combines fascinating insights on the unique geographic and administrative composition, historical and current industry performance, major trends and stakeholders and mid-term expectations.
Our Caribbean experts, Daniel Stockhammer and Eva Peralta, share their vision on where to locate the current challenges, along with the vast opportunities that the current upswing brings with it. A closer look has been taken on the proportionally increasing number of regionally well-known, but also worldwide operating hotel giants that are pursuing expansions especially on the biggest islands of the region and which brands they’re betting on.
For the next three to five years, over 100 projects comprising an approximate 27,300 rooms are in the pipeline. This supply growth, together with rapidly increasing arrival numbers and strong performance of existing hotels during Q4 2018 and Q1-Q2 2019, suggest a premium year 2019.
As it has been the trend in recent years, the upper upscale and luxury room count continues to increase and fresh and innovative hotel products of various scales and categories are currently being introduced to the markets. At the same time land owners, developers and investors are often stepping back and reasoning for less riskier products in
the mid-upscale segment.
Because of the robust visitor flow and their comparably easy marketability through a set of dynamic sales channels, all-inclusive resorts in destinations such as Dominican Republic and Jamaica continue their success story, with considerable numbers of newly built, branded properties comprising 350 rooms upwards, entering the market.