Prime Minister of Jamaica, the Most Honorable Andrew Holness, has welcomed the new US$250 million (J$34 billion) investment from Spanish Hotel chain H10, which officially broke ground today in Coral Spring, Trelawny.
Construction is already underway by the H10 Hotel chain to construct 1000 new rooms. The hotel, which is expected to complete 500 rooms by the end of the year, will be called Ocean Coral Spring.
In welcoming the new development, Prime Minister Holness also reiterated that new tourism investments in the country must include Jamaicans to ensure inclusive growth in the sector, “Growth is all about value creation. Yes we could be receiving new investments and bringing in new capital but we must ensure that the value that is being created in the local economy. This means supplying the sector with local products.”
Prime Minister Holness added that, “So what contributes towards growth is when the farmer can get their products into the hotels to be sold. What we want is for every single Jamaican to feel that they are included in the growth and development of this industry.”
Minister of Tourism, Hon Edmund Bartlett, added that “This beginning of H10 in Jamaica promises to be an exciting and financially enabling relationship because it is going to enable a large number of workers to generate income and this defines what tourism is all about. It is about inclusive growth, by creating jobs, enabling consumption and enabling revenue.
Additionally I am happy that the advent of H10 will bring with it a number of other investment properties over the next few months.”
Director of International Division for H10 Hotels, Mr. Antonio Hernandez says the construction of Ocean Coral Spring is a “significant opportunity to start a long term success story in this beautiful and exciting country.”
Chargee d’Affaires from the Spanish Embassy, Ms. Victoria Garcia Ojeda said Spain remains the second largest investor in Jamaica with tourism as the main beneficiary. She added that ‘We intend to continue this partnership that will result in more economic growth and job creation.”
Ocean Coral Spring will consist of two five star all-inclusive hotels and several entertainment and gastronomic facilities. The property will be the only one of its kind in the English speaking Caribbean and form part of the H10 group that has over 55 hotels in 19 destinations worldwide.