ican Hotel and Tourism Investment Conference , which is hosting a conference in Cuba in May . “ What we are seeing is only the tip of the iceberg .” He doesn ’ t believe the U . S . would pass on opportunities so close to its own border . Once those opportunities develop , if given the opportunity , how will it impact the rest of the region ?

“ There was great trepidation on the part of many with respect to what would happen to local markets in the Caribbean region ” after the U . S . announced a warming of relations with Cuba in 2014 , says Letvia Arza-Goderich , a partner at Preston Arza , West Hollywood , California , and a lawyer who practices in the U . S . and Caribbean .

However , she hasn ’ t seen any reduction in demand in places like Puerto Rico or the Dominican Republic – just the opposite – and lopsided supply means “ any so-called vacuum is going to take a long , long time ” to build , she says .

Wyndham ’ s Pena doesn ’ t hear a giant sucking sound , either . “ The emerging interest in the country won ’ t drastically change our development strategy in the Caribbean ,” he says . “ Cuba is now certainly on our radar in a way it wasn ’ t previously , but there are other markets throughout the region which have years and years of reputation and infrastructure already in place .”

Corvinos points to the melting pot . “ Every ( island ) has its own culture , its own gastronomy … The beautiful thing about the Caribbean is that you have choices .”

“ Initially I think you ’ re going to see an influx of people going because of the curiosity factor ,” HVS ’ Jordan says . “ The flip side is that if someone is going to Nassau or the Dominican Republic , they ’ re not going to cancel their vacation to go to Cuba . Aruba has a lot of repeat visitation . I don ’ t see that changing .”

To stay competitive , other islands need to focus on their advantages and deliver worldclass service , says Jordan , offering Punta Cana as a success story . “ Cuba will eventually change the landscape ,” he says . “ Many islands are bracing for the impact .”

CARIBBEAN TOTAL

Construction pipeline , by stage

YOY VARIANCE

Projects Rooms Projects Rooms

CUBA TOTAL YOY VARIANCE

March 2017 hotelsmag . com 33