Puerto Rico takes centerstage at the Caribbean Hospitality Investment Summit (CHRIS) held this week at the Hardrock Hotel in Miami.
The Puerto Rico Builders Association, one of the sponsors of the CHRIS event, was honored to congratulate Hugh Andrews, CEO, IHE as he received the Lifetime Achievement Award. The award was presented by Vanessa Ledesma Acting CEO and Director at Caribbean Hotel and Tourism Association. Vanessa, herself a great friend and native of Puerto Rico, discussed with Hugh Andrews his vast accomplishments that include the development of such Icon hotel properties as the Conquistador Hotel, El Convento, Las Casitas, and Vanderbilt Hotel.
STR in its annual report, listed Puerto Rico’s year over year recovery from 2019 as one of the Caribbean’s top destinations. This includes maintaining strong airlift throughout the pandemic, maintaining high ADRs, and an impressive 82% Occupancy rate. The recently delivered Aloft San Juan hotel was named as top CHRIS hospitality development of 2021. Adam Greenfader, Managing partner of AG&T and Florida Liaison Chair of the Puerto Rican Builders Association, spoke on the success of the P3 program in Puerto Rico. He mentioned in the Public-Private Collaboration panel that the island will be soliciting a P3 bid for the management of the 9 remaining local and national airports.
Kenny Blatt, Principal/Managing Partner of CPG Real Estate, spoke extensively on Puerto Rico’s hospitality industry. He discussed the island’s capacity to greatly expand its hospitality and tourism sectors. Blatt’s was enthusiastic about the transformation at Dorado Beach, A Ritz-Carlton Reserve and its evolution since 1958. His key takeaways on Dorado Beach’s success include working with local partners as a critical best practice. Blatt praised the Stubbe family and PRISA group repeatedly as “ the greatest developers any resort can ever have.”
The Puerto Rico Builders Association will be celebrating its 70 year anniversary at its upcoming conference on October 27-28, 2021. For more information visit https://constructorespr.com