Jul 04 2008
Dominican Hotel Industry Should Weather US Economic Woes
Monitors and reports to-date show that the Dominican Republic’s hospitality industry is well positioned to weather the US Economic storm.
“The Dominican Republic’s high number of European-based travellers makes the country more resistant to economic changes than other Caribbean destinations which are more dependent on U.S. demand. This in turn has helped spur resort developments,” said Fernando Garcia-Chacon, senior vice president for Jones Lang LaSalle Hotels.
Dominican Republic resorts are popular for their beautiful beaches, hospitable population, low labor and construction costs.
”Punta Cana is now shedding its all-inclusive label and is attracting investment in 4- and 5-star properties under brands such as Ritz-Carlton, Westin, and Fairmont,” said Garcia-Chacon. “Additionally, Cap Cana, located adjacent to Punta Cana, features a major in-progress upscale hotel and residential development. This development offers multiple golf courses, one of the Caribbean’s largest marinas, as well as retail and other services required by a resort of this magnitude.”
