The Impact of Big Hotel Brands in the Caribbean
The growth of Branded Hotel Chains in the Caribbean goes back to the mid-20th Century. Tradition held that visitors to the West Indies were wealthy and would visit in the “season” from December to May. However, a growing appreciation that the Caribbean could actually offer an all-year season opened the doors for hotel development.
Hotel chains demonstrated their strategic thinking by swiftly implementing a three-tier pricing structure based on high, low, and shoulder seasons. This approach not only maximised yield and occupancy but also showcased their business acumen.
The presence of famous hotel brands brought numerous positive benefits to the islands.
Industry Growth
Thanks to the presence of famous hotel brands, the increase in room inventory created a surge in local employment. It significantly boosted the local business infrastructure, including the growth of banking, insurance, retail, and duty-free shopping, all of which have seen an upward swing due to the thriving hotel industry.
This increase in room inventory had to be matched by increased air service and more interest from tour operators to consider the Caribbean for package holidays as well as other favoured destinations in Europe. The more prominent hotel brands wielded the influence and financial clout to ensure these elements happened.
All-Inclusives
The 1970s saw yet another phenomenon: the all-inclusive Resort, pioneered not by the big brands but by regional groups, such as Couples and Sandals out of Jamaica.
Hotel Brands in Belize
But what of Belize? The first Hotel Group from the US, Marriott, began its presence in Belize with the opening of the Alaia Belize Autograph Collection on May 6, 2021. This marked the first Marriott International property in the country, bringing a new level of luxury to the region. Today, there are also resorts managed by Hilton, Wyndham Radisson, and Best Western.
More recently, Hyatt, one of the more prominent players in Caribbean Resort and property development, announced its participation in the Placencia Resort in Maya Beach.
This new investment is positive for the existing tourist industry and for those considering relocating to Belize.
Think of it this way. The Caribbean Islands had their shot and have done well overall. But Belize is now a place where new things are happening. New investment and opportunities to be at the start of something that’s will grow.