As Caribbean Market-wide Hotel Performance Strengthens, CHICOS to discuss Availability of Financing for New Projects in the Region;
CHICOS Agenda Finalized and Features Financing and Other Critical Issues for the Caribbean Today

October 8, 2014: “The Caribbean market continues to re-gain its momentum,” shares Mr. Parris E. Jordan, Chairman of the Caribbean Hotel Investment Conference & Operations Summit (CHICOS). “Market wide average rate has increased every year since 2010, with increases just over the rate of inflation over the past three years. However, average rate throughout the region has increased notably by 7.5% through August 2014, as compared to August 2013. While these increases bode well for the Caribbean lodging market, the financing of new projects is the current challenge at this time.”

And thus, discussion panels and workshops at the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) will focus on key subjects impacting the investment climate in the region including available capital and the financing of new projects.

CHICOS, scheduled for November 13-14, 2014 at the Hard Rock Hotel & Casino Punta in the Dominican Republic, will showcase an impressive array of panelists including investors and operators who will discuss the pick-up in the regional economy, the improving performance of the market, and the need to transfer these successes into financing, in addition to other pertinent topics important for the Caribbean region, such as mixed-use and all-inclusives.

“Market-wide RevPAR showed healthy improvements as well,” Jordan continues. “RevPAR increased 8% through August 2014 as compared to the same time period a year earlier. And these increases in RevPAR are in fact driven by increased average rate. This can encourage hotel operators to be more confident with pricing power and result in increased rate growth and stronger yield. These results lead to hotels operating at more profitable margins.”

“Yet the improved performance has not resulted in a notable increase for available financing for new projects, and that’s why we will be bringing together leaders in this arena to CHICOS,” Jordan adds. “In this way, together we can determine where the funding lies and how to connect with the existing and new sources of capital.”

The CHICOS 2014 agenda is now available online at www.hvschicos.com/agenda and CHICOS organizers are certain that this year’s participants, speakers and panelists are sure to motivate and challenge the region’s traditional players.

Media Contact:
Leora Halpern Lanz
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About CHICOS
Staged by HVS, the Caribbean Hotel & Tourism Association (CHTA) and the Caribbean Tourism Organization (CTO), CHICOS brings together more than 300 regional and international investors and operators as well as the region’s leading decision makers. CHICOS 2014 will have delegates and speakers comprising government representatives, opinion leaders, developers, bankers and other lenders, tourism officials, investment funds, hotel chain executives, individuals/companies seeking investors for their tourism projects, franchise and operations companies, public and private institutions, consultants, advisors, architects and designers – all to discuss the region’s markets and possibilities.

Registration for CHICOS is US $1,200 per person (by Oct. 31 and US $1,350 after) and is available at www.hvschicos.com. For CHICOS preferred hotel rates, contact the Hard Rock Hotel at 1-877-601-0935.

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