GLOBAL UPDATE
PERCEPTION not necessarily reality in PUERTO RICO
Despite debt restructuring woes , hoteliers drive business with strong leisure demand .
by JEFF WEINSTEIN , EDITOR IN CHIEF
As Puerto Rico struggles to restructure its burdensome debt , which could take a year or more , except for some instability with group bookings , hotels so far are holding up fairly well despite the recent negative headlines .
“ It is true that the very large hotels such as The El Conquistador have experienced postponement of groups ,” says Marie Dexter , Resort Development Consultants , Key Biscayne , Florida . “ However , smaller hotels and resorts targeting small groups and the leisure market are doing quite well to date and in their short-term outlook .”
Jose Suarez , president of International Hospitality Enterprises , the
International Hospitality Enterprises now operates the luxurious Condado Vanderbilt Hotel for its new owner , hedge fund mastermind John Paulsen .
12 HOTELS October 2015 www . hotelsmag . com