Crunch Bops Caribbean Hotel Development

Crunch Bops Caribbean Hotel Development

Caribbean

In the first half of 2009, construction on 21 hotels in the Caribbean has been scrapped, says Lodging Econometrics, a US-based hotel real estate research firm. The corresponding period of 2008 saw the same number of projects cancelled. Atlanta-based PKF Hospitality Research senior vice president Scott Smith blames the credit crunch. “In the past, many Caribbean mixed-use projects have relied on deposits received from the pre-sale of residential units to help finance the construction of the lodgi

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