Hotel room boom sparks investments

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Jamaica is being prepared for a boom in hotel rooms over the next five years. It is expected that 12,000 new rooms will be added to existing room stock over that period, brining millions of US dollar investment to the island.

The investment line-up includes US$250 million by H10 Hotels to build 1000 rooms in Trelawny and over US$500 million by Amaterra to build out 5000 rooms across a multifaceted development also in that parish, starting with at least 1,200 hotel rooms for which ground was recently broken.

Minister of Tourism, Hon Edmund Bartlett outlined these investment deals at his Sectoral presentation in Parliament yesterday.

“Jamaica’s tourism is experience record growth in arrivals and earnings and this has attracted more investment in our highly sought after product. What we are seeing is surge in hotel construction and expansion from various chains who see Jamaica as a very viable tourist destination.

, Hotel room boom sparks investments, Buzz travel | eTurboNews |Travel News

TOURISM TEAM: Minister of Tourism, on Edmund Bartlett (4TH left) is flanked by executive members of his team at the Ministry of Tourism following his Sectoral Presentation to Parliament on Tuesday, April 30, 2019. From left are: Executive Director of the Tourism Product Development Company (TPDCo), Dr Andrew Spencer; Chairman of the Tourism Enhancement Fund, Hon Godfrey Dyer; Regional Director, Jamaica Tourist Board, Odette Soberman Dyer, and Executive Director of the Tourism Enhancement Fund, Dr Carey Wallace

In fact, data from JAMPRO has indicated that Foreign Direct Investments in 2017 generated US$173.11 million or 19.5% of total Foreign Direct Investment,” said Minister Bartlett

The parish of Hanover is set for an investment of US$500 million by Princess Hotels & Resorts on 2000 rooms while Hard Rock will be building 1100 rooms in Montego Bay.

Over in St Ann, the first phase of the Karisma development will see US$200 million invested in building 800 rooms and Moon Palace is to spend USD$160 million in 700 rooms.

Recently, 120 rooms were opened at S Hotel in Montego Bay and later this year the Wyndam Hotel in Kingston will add 250 more rooms with 220 by AC Marriott, also in Kingston.

Outlining these projects, Minister of Tourism, Hon Edmund Bartlett expressed elation that his target of having 5,000 hotel rooms within five years earning US$5 billion, was being exceeded, as he made his presentation in Parliament’s Sectoral Debate today.

Even as the development of hotel rooms continue apace, Minister Bartlett reported to the House that the tourism industry was undergoing daily changes requiring appropriate response to remain relevant, fashionable and viable. This, he said, called for innovation and the development of new systems, processes and methodologies to reimagine the sector.

For further information contact:

Corporate Communications Unit

Ministry of Tourism,

64 Knutsford Boulevard,

Kingston 5.

Tel: 876-809-2906

Author: editor

, Hotel room boom sparks investments, Buzz travel | eTurboNews |Travel News