The development pipeline throughout the Caribbean region includes more than 200 hospitality projects that either have recently opened or are under construction, in final planning, or announced. Four markets are leading this cycle: The Bahamas, the Dominican Republic, Puerto Rico, and Barbados. The Dominican Republic is home to almost half of the projects in the Caribbean, concentrated in Punta Cana, the emerging Miches corridor, Pedernales, and Puerto Plata. In addition to the luxury developments in The Bahamas, including Montage Cay, Bvlgari, Amancaya, and the Ritz-Carlton Reserve Cotton Bay, the Baha Mar is expanding with a fourth resort and residences. Puerto Rico development has been bolstered by the approval of the Esencia development, a $2-billion project that will reportedly feature Mandarin Oriental and Rosewood products with residences. The following chart summarizes the development projects by property type in the Caribbean. Nearly 60.0% of the recently opened, under construction, planned, or announced projects are luxury or upper-upscale hotels. Moreover, a number of luxury brands are being introduced to the region for the first time or are expanding their presence, such as Aman, Rosewood, Mandarin Oriental, Bvlgari, Pendry, and Equinox. Mandarin Oriental is completing its first Caribbean new-build in Grand Cayman, Pendry has entered the Caribbean for the first time in Barbados, and Equinox is making its Caribbean debut in Anguilla, featuring a 118-berth marina for yachts and super yachts.

In addition to the number of projects in the development pipeline, we have estimated the number of keys by asset class, which is illustrated in the following chart. The share of keys under development generally aligns with each market’s share of projects. For example, the Dominican Republic accounts for 48.6% of all Caribbean projects and 53.1% of all keys in the pipeline. However, Jamaica’s share of keys (11.3%) significantly exceeds its share of projects (4.2%), reflecting the larger scale and scope of the market’s luxury and upper-upscale developments.

A similar difference is also present within the top two asset classes in the Caribbean as a whole; the luxury and upper-upscale projects represent 58.9% of all new development projects but 71.1% of all new keys. This dynamic can be attributed to the residential components tied to most of those projects. Nearly every major luxury project now pairs hotel rooms with for-sale branded residences because presale deposits and, ultimately, gross sale proceeds from the residences have become a significant part of the capital stack, often allowing projects to achieve financial feasibility where the hotel component alone would not.

We estimate 64 residential components attached to the development pipeline. Two markets sit clearly atop the residential-component projects: The Bahamas and Turks & Caicos. Together, these two markets represent 40.6% of the branded residential pipeline, followed by the Dominican Republic and Puerto Rico. As four of the Caribbean’s most visited markets, these destinations are expected to attract global demand for residential properties.

Ultimately, not all of these hotel, resort, and branded-residential projects will be completed, and new developments are announced almost every month. Nonetheless, this snapshot illustrates the overall bullish attitude for the vacation destinations in the Caribbean, especially for high-end/luxury travel.

For a more detailed presentation of the new lodging supply pipeline in this region, be sure to attend HVS’s CHICOS event in November 2026.

About CHICOS

The Caribbean Hotel Investment Conference & Operations Summit (CHICOS) is the premier annual hospitality conference in the region. The landmark 15th edition of CHICOS will be held November 10–12, 2026, in The Bahamas at Atlantis Paradise Island.

CHICOS brings together leading hotel owners, developers, investors, lenders, operators, tourism officials, and industry advisors from across the region and around the globe. The conference provides valuable insights into emerging development trends, capital markets, brand-expansion strategies, and the outlook for tourism and hospitality investment throughout the Caribbean and Latin America. Attendees will have the opportunity to engage with industry leaders, explore new business opportunities, and gain firsthand perspectives on the projects and market dynamics shaping the region’s future lodging landscape. For stakeholders in the region, CHICOS remains one of the most important networking and educational events in the Caribbean hospitality sector.

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