HOTELS | Caribbean cleans up, looks toward the future

In HOTELS magazine this week, Ann Fastiggi, head of our Hospitality and Leisure Practice, is quoted extensively in a piece on how this summer’s natural disasters afflicting Texas, Florida, Puerto Rico, and the broader Caribbean are taking their toll on the winter 2018 high travel season and the robust $56.4 billion in revenues that tourism brings to the region’s GDP.

For their piece, “Caribbean cleans up, looks toward the future”, the magazine’s editorial staff writes:

“Tourists are pretty resilient, and we will see tourism dollars bounce back in about 18 months in Puerto Rico, and two to three years for some of the smaller islands,” said Ann Fastiggi, Greenwich, Connecticut-based RSR Partners, an executive recruiting firm… The insurance companies will have their say regarding what building codes should include, since claims are costly, RSR Partners’ Fastiggi said…

Some smaller independents on more heavily damaged islands that may not be as well insured would be less likely to renovate and reopen, Fastiggi predicted. “The big hotel companies have disaster response teams they can send to the Caribbean to work on the rebuilding; the independents don’t have that,” she said… And hotels built decades ago now will have the chance to be upgraded, improved and better able to compete for business, Fastiggi noted.

For more than 45 years, HOTELS magazine and have been the leading sources of news and analysis for the global hotel industry. Reaching over 90,000 hotel professionals in more than 160 countries through print and online communications, HOTELS provides information on all aspects of the worldwide hotel industry including design, food and beverage, finance, development, marketing, and technology. Owners, investors, and operators look to HOTELS to provide the latest insights on trends as well as the challenges and opportunities they face each day.

The full piece can be found here (subscription required).

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