Jamaica’s burgeoning hotel industry is set to experience a significant boost in the coming years, with a pipeline of projects worth US$2.5 billion on the horizon. The Government of Jamaica (GOJ) recently revealed that several prominent brands, including Sandals, Hardrock, and Princess, are part of this ambitious development plan. However, there is a possibility that at least one project may not materialize as anticipated.
Here are some key points from the GOJ’s recent filings and annual reports:
- Over the next five years, approximately nine hotels are expected to be completed, adding a total of 8,700 new rooms to Jamaica’s hotel inventory.
- Princess Resort, one of the upcoming developments, will feature a casino resort, adding a new dimension to Jamaica’s tourist offerings.
- The planned investments for new hotels align with previous projections, signaling a robust recovery from the pandemic-induced slowdown.
- Several high-profile projects, such as Amaterra Resort, Palm Beach Villas, and Hardrock Hotel & Casino, are among the developments set to transform Jamaica’s hospitality landscape.
Key investments and developments include:
– Amaterra Resort at Stewart Castle, Trelawny – US$200 million
– Palm Beach Villas – US$40 million
– Hardrock Hotel & Casino – US$800 million
– Princess Resort – US$500 million
– Sandals Dunn’s River Golf Resort & Spa Phases 1 and 2 – US$280 million
– Viva Wyndham – US$300 million
– Secrets Resorts – US$210 million
– RIU – US$100 million
– Harmonisation – US$25 million
– Villa Janus – US$16 million
– UNICO 18°77° Hotel Montego Bay
While most projects are expected to commence by 2025, a few, including Amaterra, Hardrock, and Harmonisation, have unspecified timelines. This uncertainty is further emphasized by the revelation that the Amaterra development is deemed “no longer viable” despite being initially included in the project list.
One standout project is the Harmony Cove casino resort, in which the Jamaican government has a stake. While the initial budget for phase one was set at US$898 million, recent reports indicate a significant reduction in planned spending. Nevertheless, the first phase of the project still aims to deliver a 1,000-room resort, with a larger buildout target of 5,000 rooms across all phases.
The tourism sector continues to be a crucial driver of Jamaica’s economy, with significant growth in visitor arrivals and tourism earnings over the past decade. In 2023, tourist visits reached 4.1 million, generating US$4.2 billion in revenue for the country—a 17% increase from the previous year.
As Jamaica’s hotel industry undergoes rapid expansion and transformation, it is clear that the country’s tourism sector remains a key player in driving economic growth and prosperity. The upcoming developments promise to enhance Jamaica’s appeal as a premier tourist destination, offering visitors a diverse range of accommodation options and experiences.
