Hotel and Resort Development

Hotel and Resort Development

The islands of Trinidad and Tobago offer a unique mix of commercial and tourism opportunities in the Caribbean.

Industry Overview

Trinidad, the larger of the two islands, is the commercial and entertainment hub of the Caribbean. Tobago offers one of the most sought-after ecological destinations ideally suited for creative tourism development opportunities. The tourism industry in Trinidad and Tobago and the Caribbean is expected to return to pre-pandemic levels within two-three years. Interest in travel to the Caribbean over other regions of the world has already been indicated in World Tourism Organization (UNWTO) statistics, with travel to the Caribbean and the Americas, hotel searches and occupancy rates bettering that of other regions during the pandemic (2020-2021 period).

Industry Facts

  • 2

    International airports

  • 388,575

    International tourists in 2019

  • 91,460

    Cruise passenger arrivals in Quarter 1, 2018

  • 33,873

    T&T Carnival 2018 visitors

  • 56%

    Of Tobago's workforce engaged in the tourism industry

  • 70-90°F

    Sub-tropical rainforest (21°C – 32°C) all year round

  • 117

    Estimated tourist sites and attractions

Investment Opportunities

  • TOBAGO

    Investment Opportunities

  • TRINIDAD

    Investment Opportunities

Why T&T for Hotel and Resort Investment

  • Attractive tourism investment incentives
  • Diverse & differentiated tourism product
  • Location at the southernmost end of the hurricane belt
  • Proximity to North, Central and South America
  • Strong domestic demand for resort product
  • Strong sustained demand for business hotel rooms
  • World-class construction companies and ancillary services - project management, surveying, valuation, design
  • No foreign exchange controls and stable exchange rate.

REGIONAL AIRLINE HUB

Piarco International Airport
The Piarco International Airport is ranked Best Airport in the Caribbean by the Skytrax World Airport Awards
for 2020 - 2021. The Airport also ranks 3rd in Central America and the Caribbean after international airports in Panama and Costa Rica (Skytrax).

Air Canada; American Airlines; British Airways; Caribbean Airlines; Copa Airlines; JetBlue; KLM Royal Dutch Airline; Liat; Rouge, Rutaca Airlines; Suriname Airways; Trans Guyana Airways; Turpial Airlines; United Airlines; Venezolana Airlines; WestJet.

 

A.N.R. Robinson International Airport
British Airways, Caribbean Airlines, Condor, Sunwing, Virgin Atlantic

Key Source Markets which significantly contribute to the total number pf tourist arrivals to Tobago

  • United Kingdom - 50%
  • Germany - 12%
  • USA - 6%

Accommodation 2019 (Pre-Pandemic)

TRINIDAD

Hotel occupancy rate was 62.11% with an average room-rate of US$165.25 and a REVPAR of US$104.72

TOBAGO

The accommodation sector in Tobago is characterised by small and medium-sized establishments, the majority of which are locally owned. These properties range from hotels and guesthouses to bed and breakfast and self-catering facilities.
Average room-rate for hotels was US$110 with a REVPAR of US$41.80 while average room-rate for guesthouses was US$55 with a REVPAR of US$16.

Carnival – A Major Tourist Attraction

Known as the biggest street party on earth, Trinidad’s Carnival attracts thousands of visitors each year and is the country’s key driver for tourism. Masqueraders flood the streets for two days before Ash Wednesday in boldly coloured costumes to the exhilarating sounds of soca music, steel pan and calypso.

Source: gotrinidadandtobago.com

An Eco-Tourist’s Haven

T&T’s biodiversity is unique and highly attractive to tourists seeking varied natural experiences. The country’s mountains, savannahs, rainforests and fresh and salt water groves are home to over 450 types of birds, over 620 types of butterflies, around 100 types of mammals as well as more than 2,500 plant species, of which 700 alone are orchids.

Tobago is home to the oldest rainforest in the western hemisphere and is one of the most sought after islands in the southern Caribbean by dive enthusiasts. Tobago’s marine treasures include shipwrecks, 300 species of coral, whale sharks, the giant Atlantic manta ray and turtles.

Source: Tourism Development Company

Business & Leisure

Port of Spain is a leading location for Meetings, Incentives, Conventions & Events. The islands have some of the largest conference facilities in the Southern Caribbean making it easy to visit for business and stay for pleasure.

Picturesque Landmarks

Visitors are attracted to many intriguing sights and historical landmarks in T&T such as the Magnificent Seven (a group of colonial mansions situated around the Queen’s Park Savannah), Caroni Bird Sanctuary, Wild Fowl Trust and the Pitch Lake.

Located on the calm northwestern peninsula of Trinidad lies Chaguaramas, an attractive, eco-friendly site that offers investment and entertainment opportunities.

Trained Hospitality Workforce

Trinidad and Tobago has well-equipped training facilities for the hospitality and tourism industry.

Undergraduate degrees in Hospitality and Tour Management, Hospitality and Tourism Management, Hotel Management and Tourism Management are offered at the University of the West Indies, St. Augustine Campus and ensure a professional labour pool for this industry.

Talk to our expert

Investments

TEL: +1 868 225 4688FAX: +1 868 225 5820