November 12, 2016, San Juan – Alberto Bacó Bagué, Secretary for the Puerto Rico Department of Economic Development and Commerce and Ingrid I. Rivera Rocafort, Executive Director of the Puerto Rico Tourism Company, joined Parris Jordan, Managing Director HVS Caribbean & Chairman of CHICOS, to announce the official opening of the Caribbean Hotel Investment Conference & Operations Summit (CHICOS), to be held November 12th - 13th, at The Ritz Carlton San Juan, in Isla Verde. The conference welcomes nearly 300 investors and as well as regional and international operators and industry leaders. The event provides attendees with the opportunity to significantly expand their network while learning the most important trends that can impact their hospitality investment decisions, not only in Puerto Rico, but in the Caribbean.
"A vigorous boost to tourism in the hotel industry is arising right now; air routes and movements of cruisers, as part of the plan to strengthen the traditional economic sectors as well as the assessment of new opportunities. Puerto Rico has unique competitive advantages and this kind of forum is suited to continue making them known our region and possible new investment opportunities," said Bacó Bagué.
“At present, Puerto Rico is in the spotlight for international investors because we have the ideal resources to develop high-profile tourism projects. We offer vastly competitive advantages and incentives for generating business ventures, a highly developed infrastructure and a very hospitable culture, all of which generate the perfect forum to host this kind of event and promote economic growth in the region,” said Rivera Rocafort.
The conference goals are to inform, enlighten and to provide time for the delegates to conduct business face-to-face. Conference attendees include governmental representatives, opinion leaders, developers, bankers and other lenders, tourism officials, investment funds, hotel brand executives, public and private institutions, consultants, advisors, architects and designers – all to discuss the region’s markets and possibilities.
Among the topics to be discussed at the conference are: investment opportunities; incentives and types of financing available; strategies to improve a destination’s competitiveness; successful project models; management and sustainable development in the Caribbean; and planning and strategies by various governments in the region to facilitate investment in their jurisdictions.
Among the keynote speakers and panelists are: Alejandro Zozaya, CEO of Apple Leisure Group; Keith St. Clair, Founder of ESJ Towers; Camilo Bolanos, VP of Development for Latin America and the Caribbean of Hyatt International; Daniel Wakeling SVP of Global Development for Trump Hotel Collections and Marco Roca Executive VP and CDO of Hard Rock International.
"This is the first time Puerto Rico is hosting this event. Puerto Rico benefits from these meetings, but these business conferences also benefit because of the advantages our island offers as the main air and maritime hub in between the Caribbean and the United States. No passport is required for U.S. citizens traveling to Puerto Rico and there are more than 1,600 flight options, including 23 new routes in the last two years,” added Rivera Rocafort.
“Visitor arrivals to the region continue to increase,” Jordan adds. “Hotel operating performance is healthy and strong, particularly average daily rates and revenue per available room (RevPAR). Both average daily rates and revenue per available room surpassed the prior peak of 2007 in 2014. And the percentage of RevPAR growth, year-to-date 2015, is even higher what we’re witnessing in the United States during the same period.”
CHICOS is organized by HVS, a leading consulting and valuations organization on issues such as, investment banking, management of hotels, services for the gaming industry, sports conventions and entertainment, shared ownership, sustainability and professional development for hotel and tourism industry. CHICOS also has the support of the Caribbean Hotels and Tourism Association (CHTA) and the Caribbean Tourism Organization (CTO).
For additional information on how to participate in CHICOS 2016 you can access the Events section of the Puerto Rico
Tourism Company corporate webpage at http://puertoricotourism.pr.gov/dnn/Events, or visit www.hvschicos.com.