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Smaller markets that thrive mostly on leisure business , such as St . Maarten and the British Virgin Islands , will see properties opening gradually in spring , says Miamibased Scott Berman , principal and industry leader , hospitality and leisure , at PwC . Puerto Rico , despite its economic problems that existed prior to the one-two punch of the hurricanes , has more commercial business to buoy recovery and bring guests to its 16,172 rooms . “ Puerto Rico will be first and everyone else will be behind them ,” Berman predicts .
As of press time , about 107 hotels were open on the island and most were accepting reservations , according to the Puerto Rico Tourism Co . The island ’ s port and airports are fully operational , and the convention center will continue to operate as command center for government agencies directing relief efforts until the end of the year . Three conferences are confirmed for January .
Most city hotels and some island hotels will be up and running in January , but some major resort properties will remain closed as damage is repaired , says Marie Dexter , principal of Resort Development Consultants Inc . in Key Biscayne , Florida . Long-term recovery depends on how quickly power is restored to the island , currently the biggest stumbling block .
“ It ’ s not possible to predict recovery until such time as power is restored ,” Dexter says , adding that in the future , alternative power sources will become a standard feature of new resort projects .
Dreams Dominicus La Romana in the Dominican Republic , an AMResorts property that sustained minimal damage following Hurricane Maria . The property is open for business .
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“ TOURISTS ARE PRETTY RESILIENT , AND WE WILL SEE TOURISM DOLLARS BOUNCE BACK IN THE CARIBBEAN IN ABOUT 18 MONTHS IN PUERTO RICO , AND TWO TO THREE YEARS FOR SOME OF THE SMALLER ISLANDS .”
ANN FASTIGGI , MANAGING DIRECTOR , RSR PARTNERS
both in Trinidad and Tobago , which the hurricanes avoided .
Some smaller independents on more heavily damaged islands that may not be as well-insured would be less likely to renovate and reopen , Fastiggi predicts . “ The big hotel companies have disaster response teams they can send to the Caribbean to work on the rebuilding ; the independents don ' t have that ,” she says .
VULTURE INVESTORS Those buyers who see a chance to buy very damaged hotels at reduced prices in the Caribbean actually will help these locations by injecting badly needed capital , Jordan points out . Many non-branded , smaller properties did not have professional management , and new owners could result in better-run hotels . Investors likely would come from North America , Europe , and Asia , he says .
In addition , damaged hotels that were not adequately insured will be ready for opportunistic buyers , Berman says . And hotels built decades ago now will have the chance to be upgraded , improved and better able to compete for business , Fastiggi notes .
“ Hope is a much-needed mindset during this rebuilding period , and the Caribbean can become even stronger when all this is in the past ,” Galbaransingh says .
16 hotelsmag . com December 2017