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Minister Bartlett bats for regional tourism investment

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Jamaica’s Minister of Tourism, Hon Edmund Bartlett has reiterated his call on tourism investors to look beyond developing hotels while batting for regional tourism investment.

In a jovial welcome to some 300 investors from across globe gathered for the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) at Secrets Wild Orchid Resort Wednesday night [November 13, 2019], Minister Bartlett made a pitch for them to invest in the heavily tourism dependent Caribbean region, but more so in Jamaica.

He expressed happiness at having them “here in Jamaica for us to talk a little bit about investment but more so to leave some contracts behind. We want to make sure that some new properties are established in the region.”

He said given that the Caribbean is the most tourism dependent region in the world, “This meeting of investors is of tremendous importance to us because what you’re doing is helping to enhance the wellbeing of the Caribbean by forcing investment in the key area that is driving the economy of the region.”

Through such investment, said Minister Bartlett, they would be helping to create jobs, to enable stability but more so, build the capacity of the people of the region to offer more.

He anticipated the two-day summit being spent “looking carefully not just as investment in the traditional sense … but I want us to look beyond rooms because for tourism to become truly inclusive and to enable the development and the enrichment of the people of the region, we have to invest on the supply side.” He reinforced that unless there was a building of the capacity to absorb the demand that tourism brings, “then tourism will be a negative industry in the region.”

Minister Bartlett noted that the region was both a heavy driver of foreign exchange as well as a heavy user and “and unless we create the linkages to stop the leakages of foreign exchange then the region will be poorer for tourism instead of being richer and so investment discussions must be to enrich the Caribbean and to create for us the opportunities to realize our best selves and to earn and achieve prosperity.”

Meanwhile, President of JAMPRO, Diane Edwards said apart from CHICOS there was no other major event in the Caribbean that focusses on investment in tourism. She said the Caribbean has long been an outstanding tourism destination “but we have not focused so much on the business side of things and that would be done over the next two days.”

Minister of Industry, Commerce, Agriculture and Fisheries, Hon Audley Shaw also welcomed the CHICOS delegates, noting that there were linkages between his portfolio responsibilities and tourism.

Chairman of the Caribbean Tourism Organization (CTO) and Minister of Tourism for St Lucia, Dominique Fedee and Bahamas Tourism Minister, Dionisio D’Aguilar also joined Minister Bartlett in wooing the tourism investors.

MEDIA CONTACT: Jamaica Ministry of Tourism, Corporate Communications, 64 Knutsford Boulevard, Kingston 5, Tel: 920-4926-30, Fax: 920-4944

Bartlett calls for Investment beyond Hotel Rooms

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Jamaica’s Minister of Tourism, Hon Edmund Bartlett has made a call for investment in the tourism industry to go beyond the development of hotel rooms and other infrastructure. Minister Bartlett made the call during his presentation on the opportunities for investment in travel and tourism development projects, Infrastructure and Services at the International Tourism and Investment Conference (ITIC) in London.

The ITIC is a global platform for policymakers, tourism ministers, investors and the tourism business community. It addresses the concerns and challenges facing destinations worldwide in areas such as capacity building, infrastructure, human capital, resources, safety and security.

“The tourism industry is rapidly changing with the onset of new technologies which are changing the way we do business. To keep apace of these changes to be able to meet the growing demands of the industry, our investment focus should be on building the capacity of the suppliers in the industry who are the main drivers of tourism,” said Minister Bartlett.

Foreign direct investment (FDI) flows to Latin America and the Caribbean rose 8% to reach $151 billion, according to UNCTAD’s World Investment Report 2018. For Jamaica, FDI flows accounted for USD 888 million.

“Small tourism players, which I refer to as Small and Medium Tourism Enterprises (SMTEs) are the backbone of the industry. It is through their creativity we have been able to tap into the passion points of our visitors whether through food or entertainment, to give authentic experiences to our visitors.

“Building their capacity will build their ability to be even more creative to enhance our tourism offerings,” added Minister Bartlett.

Through the Tourism Enhancement Fund, SMTEs in Jamaica have access to a J$1 billion revolving loan program that is administered through the EXIM Bank. In total, since its inception, as at last month, September 2019, TEF has disbursed more than $868 million in loan funds to 367 borrowers.

Over the 2-day period, Minister Bartlett participated in two panel discussions titled, ‘Opportunities for Investment in Travel and Tourism Development Projects, Infrastructure and Services,’ and ‘Climate Change and Tourism Resilience Management.’

Other panelists include senior officials such as Kenya’s Cabinet Secretary of Tourism and Wildlife, Hon. Najib Balala EGH; Malta’s Minister of Tourism, Hon. Konrad Mizzi; and Chairman of ITIC/ former United Nations World Tourism Organization (UNWTO) Secretary-General, Dr. Taleb Rifai.

MEDIA CONTACT: Jamaica Ministry of Tourism, Corporate Communications, 64 Knutsford Boulevard, Kingston 5, Tel: 920-4926-30, Fax: 920-4944

Jamaica’s Tourism Minister will deliver remarks at launch of Caribbean Hotel Investment Conference and Operation Summit

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Jamaica’s Tourism Minister, Hon Edmund Bartlett will deliver remarks at the launch of the Caribbean Hotel Investment Conference & Operations Summit (CHICOS).

The event brings together nearly 300 regional and international investors and operators, as well as the region’s leading decision makers.

Attendees network and discuss the region’s markets and possibilities, while analyzing the most important trends that can impact their investment decisions.

The 2019 staging will take place in Montego Bay, Jamaica from November 14 – 15.

WHAT: Launch of the Caribbean Hotel Investment Conference and Operations Summit

WHEN: Tuesday, May 07, 2019 beginning at 10:00 a.m.

WHERE: The Pavilion, Terra Nova All-Suite Hotel, 17 Waterloo Rd, Kingston

MEDIA CONTACT: Jamaica Ministry of Tourism, Corporate Communications, 64 Knutsford Boulevard, Kingston 5, Tel: 920-4926-30, Fax: 920-4944

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.

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

Mediterranean Resort & Hotel Real Estate Forum returns to Greece

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Now in its fifth year, the Mediterranean Resort & Hotel Real Estate Forum (MR&H) will return to Greece for the second year in succession this October. The event, hosted by Questex, is dedicated to the investment, development and operation of resorts and hotels within the Mediterranean region. This niche, but highly specialized area, comprises various elements; hotel, residential, marinas, health clubs, children’s activities, retail, sports facilities, F&B, all of which need to be carefully woven together with seamless operation to create a successful resort.

The conference will be held at the Hilton Athens on the 29-31st October 2019. A fitting venue for Hilton’s celebration of 100 years in hospitality and the continuation of the premise that the group was founded on; “travel can make the world a better place”.

The dynamic growth of tourism in Greece continues to boost investment activity throughout the country and throughout the wider Mediterranean region. Speaking at MIPIM last month, Secretary General for Tourism Policy and Development George Tziallas said; “Half of all funding under Greece’s 2016 development law has been channeled into tourism ventures, while more than 400 investment plans have been submitted in the last three years to the tourism ministry for approval.”

This statement is supported by data recently released by Horwath HTL during the International Hotel Investment Forum (IHIF) which revealed Greece is a prime investment opportunity for international hotel chains as only 1.7% of total units currently operate under an international brand. Results from the joint investor sentiment survey from Tranio and IHIF showed Greece listed as one of the European countries that is most attractive for hotel real estate investment.

Stakeholders from leading operators including Thomas Cook, Club Med and Nobu attend the event alongside investors from KSL, Starwood Capital Group and Dolphin Capital all recognizing the value of coming together as a collective to debate, converse and discuss.

Registration for MR&H 2019 is now open and delegate tickets can be purchased at the best value Early Bird rate until the end of May.

Enterprise Greece have pledged their continued support for MR&H and Grigoris Stergioulis, Chairman & CEO at Enterprise Greece said in relation to the ongoing collaboration; “Building on the success of the event last year, the positive working relationship with Questex and the significant opportunities that exist for investors in the Greek hotel market, we’re thrilled to once again partner with MR&H and look forward to welcoming the event to Greece for the second year.”

Alexi Khajavi, Managing Director of EMEA Hospitality + Travel Group, Questex said; “The tourism and hospitality prosperity that Greece is enjoying is leading to significant activity from serious investors and developers. As a conference host, our role is to facilitate these meetings, connections and interactions in an environment that is educational and energizing. With the continued support from Enterprise Greece, Hilton providing the setting, and amongst very encouraging industry data, we’re confident that MR&H will prove to be an event not to be missed for those currently active or keen to do business within the Mediterranean resort and hotel space”.

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