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Hotel developers to spend $76 billion on projects in Jamaica

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HOTEL developers are expected to spend $76 billion through to 2015 on projects already in the pipeline for Jamaica.

Some of the 10 properties, which will add 2,300 rooms to Jamaica’s room count within two years, have already begun or have already been completed, according to the Government filings with the US Securities and Exchange Commission.

Carib Hospitality is spending $1.8 billion on its ongoing hotel development of the 130-room Courtyard by Marriott in New Kingston, while the RIU group spent $3.9 billion to open the 232-room RIU Palace in December 2013.

Additionally, the Tourism and Leisure Development International (TLDI) group is currently spending some $9 billion to build 520 new rooms for a Playa Hotel.

Still to come is a $2.2-billion medical tourism hospital facility to be built by Spanish-based Hospiten group.

Phase two of the Fiesta Group’s Grand Lady Paladium hotel, which is projected to cost $20 billion to build the 800-room hotel, is still awaiting building approval and a casino gaming licence.

Published in the Jamaica Observer
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