10-year Tourism Plan Calls for Room Stock Increase to 2500 in Tobago, 6000 in Trinidad

10-year Tourism Plan Calls for Room Stock Increase to 2500 in Tobago, 6000 in Trinidad

At the recently concluded Trinidad and Tobago Virtual Investment Forum held over the course of 2 days from November 2nd to 3rd 2021, speakers for the Hotel and Resort Investment Opportunities panel discussion, shared valuable insight into existing opportunities and ongoing developments to improve the investment attractiveness of both islands. Prominent amongst the information shared were recommendations for increasing the hotel room stock on both islands to 2,500 in Tobago and 6,000 in Trinidad over a ten-year period.

Moderated by Cornell Buckradee, Manager, Investment and Business Development at Tourism Trinidad Limited, the expert discussion panel included Cliff Hamilton, Chairman of Trinidad Tourism Ltd, Louis Lewis, CEO of the Tobago Tourism Authority and David Cockburn, Assistant VP Special Projects and Hotel Assets of e TecK. 

Speaking on the desired mix of room stock developments targeted for Tobago, Louis Lewis shared that Tobago was in the market for property investments of four-star and above with room capacity of 250 and above. However, he emphasized that investments needed to have the “right mix”, and be able to produce a high yield, low environmental impact and exist in concert with the natural environment. 

Cliff Hamilton stated that, “Investors build hotels where hotels exist.” Referencing the international hotel brands located in Port of Spain, he pointed to the need to examine closely how we deal with spatial planning in the capital city to be able to accommodate new hotel developments.

Recommendations for the future hotel investment landscape of Trinidad include the establishment of a convention center linked to a signature street which touts branded hotels and allows pedestrian-access to events at the convention center. 

Other topics discussed during the session included the key factors driving branded development, the attractiveness of mixed-use developments, the integration of creative sector opportunities and Trinidad and Tobago’s suite of investment incentives for investments in the Hotel and Resort Development industry.

Hotel and Resort Investment Opportunities was one of seven sector panel discussions held at the Trinidad and Tobago Virtual Investment Forum. 

Other topics discussed during the session included the key factors driving branded development, the attractiveness of mixed-use developments, the integration of creative sector opportunities and Trinidad and Tobago’s suite of investment incentives for investments in the Hotel and Resort Development industry.
Hotel and Resort Investment Opportunities was one of seven sector panel discussions held at the Trinidad and Tobago Virtual Investment Forum. 

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