Caribbean Hotel Investments Demand Unique Strategies Due to Air Travel Reliance, Staffing, Supply Chain, and Resilience Challenges
🏝️ Caribbean hotels, thriving in recent years, rely on air travel for guests, often limited by airport capacity. Diversified airline service enhances resilience. Local labor dynamics, like Jamaica's 2024 streamlined work permits, affect staffing costs. High import duties, up to 25%, impact supply expenses. Destination resilience is crucial: Puerto Rico faces power issues, while St. Maarten’s slow recovery post-Hurricane Irma highlights the importance of quick infrastructure restoration. Insurance costs and tourism authority efforts influence investment success.
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