2021-24 hotel growth in The Caribbean and North America

It is a fact that we are facing hard times in hospitality industry. But we can also see lights a the end of the tunnel. Despite the global pandemy,

1,737 hotels are in the works across North America and the Caribbean right now.

2021 is going to be a busy year

2021 will be a busy year in North America and the Caribbean as far as hotel openings are concerned. 840 launches are planned across this huge region, bringing a total of 165,379 keys into play.

2022 is looking a bit quieter, relatively speaking, with 355 projects and 78,558 keys in the pipeline. In 2023, things will slow down considerably, with only 109 properties and 26,981 rooms currently on the cards.

For 2024 and beyond, 433 hotels with 96,357 rooms have already been mooted, although many more are likely to be added as the months progress.

Of the 1,737 planned hotels, roughly 75% will be in the four-star sector. The remaining 25% will fall into the five-star category.

The US leads the growth markets

Given its sheer size and global influence, it’s unsurprising that the US tops the list of national growth markets in the region. Here 1,527 hotels are going to bring 299,489 rooms to bear over the coming years.

Canada comes in a very distant second place with 69 projects and 11,321 keys, while the Dominican Republic takes third with 29 new properties and 21,564 rooms – many of which belong to one mega-project. I highlight the coming AC Punta Cana (129keys), the first project from EGI Business Group in the Caribbean, which is expected to launch in the spring of 2021.

21 schemes with 5,383 rooms are underway in Cuba, while Jamaica will see ten hotels with an impressive 11,779 keys opening soon.

Key hotel brands in the region

Hilton Worldwide and Marriott International are the key drivers moving the market forward in this region – collectively, they account for seven of the ten fastest growing brands.

However, Cambria Hotels comes out ahead overall with 77 upcoming openings and 10,410 additional rooms, according to figures provided by Choice Hotels International. Next up is Home2 Suites by Hilton, which boasts 53 ongoing projects and 6,378 keys, while Hampton by Hilton is close behind with 47 properties and 5,861 rooms.

Interestingly, both AC Hotels by Marriott and Aloft Hotels will launch 37 hotels, with Fairfield Inn & Suites by Marriott expanding by 36 properties. Hilton Garden Inn follows with 35 projects in the pipeline.

We also need to point out that Element Hotels and Hyatt will each add 31 hotels to their respective portfolios, while Hyatt Place will grow its footprint by 30 properties.

Great projects in North America and the Caribbean

In Nevada, the 1,166-room Hilton Resorts World Las Vegas is due to open by mid-2021 as part of a 3,500-key development that’ll also include LXR Resorts World Las Vegas and Conrad Resorts World Las Vegas. This project, which will cost nearly US$1 billion, is being developed by casino operator Genting Group. The property will boast a 5,000-capacity theatre, 350,000 sq ft of meeting and convention space, a 220,000 sq ft pool complex with seven unique pool experiences, a spa and fitness centre, an extensive collection of casual and fine-dining F&B concepts, and, of course, a casino.

In Florida, Grand Hyatt Miami Beach will welcome guests from Q3 2023, offering 800 luxurious rooms within walking distance of the beach. It’s expected to include two floors of meeting spaces and ballrooms that will complement the nearby convention centre, a resort-style pool deck with panoramic views, and retail space that will activate the district at street level. An elevated skybridge, moreover, will enable event attendees to move freely between the hotel and the convention centre.

On a similar theme, Omni Hotel Fort Lauderdale will be geared towards business guests attending events at the nearby Broward County Convention Centre. The hotel will boast 800 rooms and a vast amount of meeting space – including a spectacular waterfront ballroom. Guests will also have access to multiple F&B options including a rooftop bar, an 11,000 sq ft full-service spa and fitness centre, and over 30,000 sq ft of pool decks.

Caribbean ecohotels

From a different perspective, focusing in tiny ecohotels I recommend to pay attention to Cottage by the Sea, in St Croix. Not big buildings anymore, but beautiful family own tiny cottages first line beach.

I thank to all hoteliers, Tophotelnews and colleagues I spoke with to develop and share the information above.

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??Dear reader, here I give you a Direct Access to our Group, "Luxury Eco Hotels Development", where you′ll find much more information and specialists in the field. Feel free to send me DM, should you have any question.

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Hector De Castro has 19+ years experience making hospitality companies grow in The Caribbean, Europe and SE Asia.

PhD cand., Global EMBA from top IE Business School, BA (Hons) in Legal Trans., Dipl. in Business Admin, PMP, Ms in Hotel Management.

CEO of EcoHotelProjects, professor at Inesem Business School (Spain) and Tourism University (Cancun, Mexico). Traveller.

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