Reflecting on the trajectory from the depths of the pandemic to the present, Fernando Garcia-Chacon expresses admiration for the rapid rebound witnessed in the Caribbean hotel investment market. As the leader of the CBRE Hotels Advisory team, Garcia-Chacon acknowledges the initial hope that hotel investments might regain their footing by 2024 or 2025. However, the reality has surpassed expectations, with...
Barbados' government is moving forward with the divestment of the Savannah Hotel, a key component of the GEMS project, to an undisclosed buyer. This strategic maneuver aims to invigorate the hotel sector. The Savannah Hotel in Barbados, previously under the government's ownership as part of the GEMS of Barbados hotel project, is poised for a change in ownership. Ian Gooding-Edghill, the Minister of...
In a strategic move to cater to evolving consumer preferences and expand its presence in the all-inclusive resort sector, Marriott International is set to rebrand three of its esteemed properties in Barbados this year. The renowned hospitality giant will integrate Treasure Beach, The House, and Waves resorts into its Autograph Collection brand, thereby enhancing the allure of Barbados as a premier...
The foremost hotel investment conference in the Caribbean is set to return to Miami this April. The Caribbean Hotel and Resort Investment Summit (CHRIS) will take place from April 22nd to 23rd at the Loews Coral Gables Hotel. With over 450 registered delegates, including a significant portion holding esteemed positions such as CEO, Chairman, president, or owner, the event draws attendees from more than...
More than 500 fintech experts and enthusiasts convened in Barbados for the second edition of the Fintech Islands Experience 2024 (FiX24) conference, held at Sam’s Lord Castle, A Wyndham Grand Resort, from January 24. The event, marked by substantial growth, attracted participants from the Caribbean, Americas, Europe, and Africa. FiX24 garnered support from top-tier partners, with Mastercard as the...
A consortium from the private sector has unveiled Connect Caribe, a groundbreaking regional ferry service set to commence operations in the final quarter of 2024. With an initial investment of $100 million, this initiative aims to create an efficient sea transport system connecting various Caribbean nations. Connect Caribe plans to offer both weekly and daily round trips, linking Barbados with Saint...
The Caribbean island of Barbados, known for its pristine beaches and vibrant culture, has taken a significant step towards economic growth and development through the enactment of the Special Development Areas Act. This legislation is a strategic initiative aimed at fostering development by offering various concessions to approved developers. These incentives are designed to stimulate specific activities...
Are you dreaming of owning a piece of paradise and turning it into a lucrative business venture? Look no further! We have a remarkable opportunity that combines the allure of a tropical haven with the promise of a thriving investment. Nestled in the heart of Christ Church, Barbados, this turnkey hotel property is more than just a real estate listing—it's a golden ticket to a sun-soaked entrepreneurial...
Barbados is on the brink of experiencing its most significant luxury building boom in 14 years, with real estate leaders predicting labor and material shortages. While construction costs are expected to rise, the demand for high-end properties among the super-rich remains unwavering, reaching record prices, according to top realtors interviewed by Barbados TODAY. A leading agent highlighted the...
In the latest Global Economic Prospects Report, the World Bank anticipates a steady recovery in the Caribbean and Latin America, projecting an overall economic growth of 2.3% and 2.5% for the region this year and the next. Despite a dimmed outlook for developing economies due to slowing growth and trade challenges, Barbados stands out with an optimistic forecast of 4.6% growth in 2024. The report...