Five luxury resorts in the planning stages in various destinations in the Caribbean and the Chairman of Harlequin Resort, Dave Ames is saying they intend to, “show the Caribbean how it should be done.”
In a recent interview with a UK based travel publication David Ames tells that he doesn’t particularly like the Caribbean.
As noted by the publication this is not what you’d expect to hear from a man about to open one of the most ambitious resorts the Caribbean has ever seen.
Ames is Chairman of Harlequin Hotels & Resorts which will, in four months time, open the doors of Buccament Bay – a 1,200-room mega-resort on the small island of St Vincent.
The Harlequin boss, makes no bones about the fact that he hasn’t rated the Caribbean in the past. “I go on holiday to the Maldives or the Far East,” he says. “I go where you get value for money. And I don’t believe you get that in the Caribbean right now.”
According to the report Harlequin claims it will open a staggering 8,000 hotel rooms in the Caribbean over the next five years.
Furthermore, the resort firm is setting its sights beyond the Caribbean and has plans for expansion to resorts in Brazil and Thailand.
What appears to set Harlequin resorts apart from those that already call the Caribbean home, is the move to keep transportation in house. Harlequin says it will set up its own airline, Harlequin Air, as well as building its own boats, so guests can enjoy two or three-centre holidays without having to use regional transport.
Development is funded by investments through sister company Harlequin Property, and Ames claims Harlequin Hotels is in the fortunate position of having no debt.
He explained in the interview that around £1 billion-worth of property has already been sold, and the group is in no hurry to get paying guests through the doors. “What’s important for us is for our travel partners to come and have a look, and feel confident sending their clients to us. We’re not desperate to get paying guests until November.”
With Buccament Bay, Ames intends to combine luxurious accommodation with a star-studded programme of activities. The Harlequin Sports Academy is being led by TV football pundit and former Republic of Ireland team captain Andy Townsend, with Pat Cash brought in to set up a Tennis Academy, and Liverpool Football Club launching its first soccer school.
In the Harlequin Performing Arts Academy, guests will take classes in acting, stage-management and make-up from real West End and Broadway professionals.
Even though the Caribbean may not have been David Ames’ destination of choice in the past, the region certainly looks set to be at the heart of Harlequin Hotels in the future.
The correction in real estate prices that occurred between 2008-2009 period will drive innovation and reduce construction costs and land prices. In fact there will be better value as a result. Additionally in the long term a “piece of the rock” will be as precious as an ounce of gold or barrel of oil is today.
This the announcement from Peter Boos, Chairman Emeritus of Ernst and Young Caribbean as he gave his projections for the performance of the real estate market for 2010 in the Red Book Barbados 2010.
Boos who has been a commentator on a number of sectors in Barbados said, “2010 is a good year to consider buying Barbados real estate with a long-term value proposition in mind.”
In fact Boos points out in his article that Barbados’ national economic development strategy focused primarily on export services, plus a high quality of life rating and great natural environment, alongside strong democratic institutions and a deep respect for law and order, will see Barbados conform and differentiate itself as the place in the Caribbean to invest for quality, integrity and security.
Boos who has been in the business sector in Barbados for a number of years also explains that as a small country of 166 square miles, owning a piece of it in a globalized world will continue to be an aspiration for many.
He adds, “Barbados benefits from well-functioning institutions and social and political stability. It is this reality that will eventually ensure Barbados’ success in continuing to attract investment in real estate, both from domestic and international sources, as the global economy recovers albeit slowly.”
Moreover, the legendary businessman notes that there is expected to be five challenging but transformational years ahead where Barbados will emerge as more internationally competitive and engaged in global trade.
Barbados and Grenada are among the top reasons why the global property seekers are opting for foreign property mortgages.
According to a UK based publication investors considering taking out a foreign property mortgages may be attracted to ‘romantic’ Caribbean locations such as Grenada and Barbados.
Property Frontiers a Global real estate Group have characterized these two islands as weighing heavily in the minds of prospective property investors.
Commenting recently, Christopher Chadd, project manager for the global real estate group, said that Brits have always been attracted to the Caribbean, although many people’s hopes of living in the region are cut short by the cost of property.
However, he explained that islands such as Grenada and Barbados offer all the romance of the region.
While highlighting that Grenada is rapidly becoming one of the premier Caribbean island destinations, but prices for property are probably a third of what they are elsewhere in the area,” he explained.
The UK reported said, “For those who are planning to take out a mortgage for foreign property in the area, Mr Chadd encouraged research into tourism growth trends to identify future capital growth hotspots.
Earlier in February, A Place in the Sun (UK-based property magazine) placed the Caribbean ninth in its top ten property destinations list for 2010.
Meanwhile other international commentators have continuously placed the Caribbean high on their list of destinations with wide appeal for global property investors.
With new developments being built continuously it is a major trend particularly on island’s such as Barbados, and it appears that the region will continue as a hotspot for investors.
Five luxury resorts in the planning stages in various destinations in the Caribbean and the Chairman of Harlequin Resort, Dave Ames is saying they intend to, “show the Caribbean how it should be done.”
