Luxury hotel development slowly returns to the Caribbean

As the economy improves, hotel developers are returning to the Caribbean to plan new luxury hotel properties. In September, Dart Realty will begin building a 263-room boutique hotel in Grand Cayman to be operated by Kimpton. If all 15 Caribbean hotels that are planning to open this year do so, it will mark a growth rate less than 0.1%, according to Lodging Econometrics. In 2008, hotel openings indicated a 3.4% growth rate.

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