15 Nov BCQS Team Attends CHICOS Conference 2022

The BCQS team recently attended the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) from 9-11th November at the Hilton La Romana Resort in the Dominican Republic.

CHICOS is one of the leading hotel investment conferences in the region. Over three days, the BCQS team had the opportunity to network and connect with industry professionals, including regional and international investors, operators, and top decision makers.

The conference highlighted the current macroeconomic pressures on the hospitality industry with increasing interest rates and inflation in source markets and how this might affect tourism arrivals and new development. In general, the feeling at the conference was that the Caribbean hospitality industry is resilient and short to medium term demand is expected to continue to be strong, despite these external pressures.

BCQS’ Simon Taylor had the opportunity to moderate a panel discussion focused on opportunities for major brands to expand their reach and brand footprint in the Caribbean region. In particular, the panel identified branding for Up-scale All-Inclusive hotels as a primary focus. There are extensive opportunities in the region for expanding Soft Brand products where successful independent hotels can take advantage of the brand’s reservations and loyalty booking power without undertaking a significant property improvement program.

BCQS’ Sanjay Amin participated in a panel on design and construction in the Caribbean, and below are some key takeaways from this discussion.

• The increase in construction costs over the last two years on most islands ranged from 12-20%, mainly due to changes in materials, equipment, and shipping costs.
• Working with specialised consultants with experience of hotels in the Caribbean region is critical.
• Ensure all Developers and Owners have adequate insurance considering the increase in construction costs over the last 2 years.
• It is essential to have an experienced Contractor on a project.
• Selecting the most appropriate and suitable procurement route for projects is vital.

Photo L to R:
William Peguero Snr – Development Consultant
Chris Graham – BCQS International
Sanjay Amin – BCQS International
Simon Taylor – BCQS International

Photo L to R:
Eric Ullman – OBMI
Juan Mosseri – E-Finity Distributed Generation
David Beckley – McGriff
Sanjay Amin – BCQS International
Bill Brown – DCK Worldwide Group

Photo L to R:
Parris Jordan – HVS
Simon Taylor – BCQS International