The Builders Association of Puerto Rico was proud to participate in back to back investment summits in Miami: Hotel Opportunities Latin America (HOLA) and Caribbean Hotel Resort Investment Summit (CHRIS). The conferences were held at the JW Marriott Marquis on May 14-18, 2018. The back-to-back nature of the two events was a great way for the Builders Association of Puerto Rico to be present not only to investors interested in the Caribbean, but also in the Latin American region.
Two of our members from the Builders Association of Puerto Rico participated as speakers at the events, Mr. Federico Sanchez on the Caribbean Capital Roundtable and Adam Greenfader Public/Private Track Financing Opportunities working with the Public Sector. Our association was also present in full force with our Vice President, Mr. Alfie Martinez.
Carla Campos, The Director of the Tourism of the Government of Puerto Rico, spoke of the new tourism opportunities and highlighted several new hospitality developments currently under construction.
Some key take-aways are that supply, demand, REVPAR, ADR continue to grow for the Caribbean region. Insurance policy corrections will be looked at more closely than ever and that banks are approaching the peak, and are “cautiously optimistic” about the future. According to the KPMG’s report on Caribbean, Puerto Rico has the third most inventory under construction with 549 new hotel keys.
Although the 2017 Hurricane season brought great devastation Puerto Rico and the Caribbean region as a whole, HOLA and CHRIS revealed last week that we are all back and ready for business.