In 2019, we have seen virtually all the Caribbean inventory that was destroyed by Hurricane’s Irma and Maria come back into operation. This has created pluses and minuses in various markets as demand has moved from one island to another with changing supply levels. However, it is safe to say that the quality of hotel inventory across the region is at a higher standard than we have seen since before the recession of 2008/2009.
Unfortunately, the region was not without bad news in 2019. The Dominican Republic experienced deaths of U.S Tourists that have created a negative sentiment, hopefully temporary, from the U.S. travelers source market that has impacted visitor arrivals to the destination through the summer of 2019. In addition, Hurricane Dorian devasted the Abaco’s and Grand Bahama Island in the Bahamas with catastrophic property damage and significant loss of life. Fortunately, the balance of the Bahamas was virtually untouched and is open for business.
The Caribbean is a broad region with multiple destinations that always seems to have an ebb and flow in terms of performance, investment and the relationship with the natural environment. Notwithstanding the negative impacts that we have witnessed in 2019, offset by positive overall performance, the level of new product under construction is at historic highs. The commitment of investors and lenders to this region once again confirms the resilience that one has come to expect within the Caribbean Hotel and Tourism Industry.
CBRE is pleased to announce the publication of the fourteenth annual edition of Caribbean Trends® in the Hotel Industry. The report presents revenue, expense and profit benchmarks for lodging operations in the region. In addition, the report examines tourism trends in the Caribbean during 2018 through early 2019.
To purchase a copy of the 2019 edition of Caribbean Trends® in the Hotel Industry, please visit: