Qatar Building Luxury Hotel In Cuba – Meanwhile Barbados Oceans Two Stops Construction “Cashflow Problem”

Cuba’s Tourism Set To Rocket As US Blockade Falls

Qatar has announced that it will build a five-star resort on the South coast of Cuba and become the first Arab country to “invest in Cuba’s booming tourism sector”. The 450-room upscale resort is expected to be completed by 2015.

The Qatar announcement is only one of the many indicators we see in the news today that the thaw in Cuban-American relationships is already having a tangible impact upon Cuba’s economy and especially its travel industry. As business and tourism struggles throughout the rest of the Caribbean, reports suggest that Cuba’s visitor numbers (and foreign currency inflow) will significantly increase this year largely based upon the pent-up market of Cuban-Americans now able to travel to the old country to assist family members with financial aid, business investment and, most important – business experience.

Cuba Holguin Bed Breakfast

“Casa Particular” Bed & Breakfast Tourist Homes – A Resurgence of Cuban Entrepreneurs

BFP’s own Cliverton received word from Cuban friends that the number of licensed family-run bed and breakfast homes in Holguin has increased by about 22% this year. Although that number makes no distinction between a home that has prepared and opened a single bedroom for rent or a new purpose-built four-bedroom tourist home with ensuite toilets, it is an important indicator of capital investment and growth expectations.

When Cliverton asked what he could bring to Cuba next time, most of his friends immediately said “bed sheets!” Even if they can’t use them in their own B&Bs, bedsheets are the hot commodity at the moment. So if you stay at Rosa’s or Sonia’s place, don’t forget to bring some new sheets. You’ll be amazed at the welcome you’ll receive! (That’s Sonia’s front apartment in the photo. Clean place run by friendly people.)

Oceans Two Construction Stops

Oceans Two Construction Stops

Meanwhile In Barbados: Oceans Two Project Stops Construction

We can all hope that the work stoppage at the Oceans Two resort hotel project is simply about an underfunded project. IF that is truly the case, perhaps some other firm can pick up the pieces and continue.

If, however, the problem is that all the banks have looked at the long term scenario for tourism investment in Barbados and have refused financing on that basis — then we are in big trouble. What is the truth? Around here, who knows? According to the CBC, the project’s owners have refused comment. (See CBC’s 200 Workers Sent Home From Construction Site)

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6 Comments

Filed under Barbados, Barbados Tourism, Cuba, Offshore Investments, Real Estate, Tourism, Travel, Traveling and Tourism

6 responses to “Qatar Building Luxury Hotel In Cuba – Meanwhile Barbados Oceans Two Stops Construction “Cashflow Problem”

  1. Another cement monster that should have never been built.

  2. reality check

    notbajan

    never worry—There is more development to come around the priceless green open space and previously protected wetlands that surround Graeme Hall, thanks to the newly elected DLP government in January/February 2008.

    Start sending your kids overseas if you can afford it as the governments are filling their pockets while they destroy our protected open spaces and quickly eroding biodiversity.

  3. ru4real

    Poor old Castro isn’t even in his grave yet and his communist dream hits the dust with a flow of oil money from the Qatar oligarchs.

    Meanwhile is there anything uglier than the Ocean two development .
    Concrete shoe boxes atop one another.

  4. cq8

    Get used to the ugly because that place will stay like that for the next decade.

    You don’t suppose it might have occurred to the government to require a performance bond from builders so when this happens we’d have money to tear the place down?

    Its the coastline and we only have so much of that left.

  5. Not even Bajans can conserve?
    We are in deep trouble now.

  6. yatinkiteasy

    I thought the Chickmont guy was loaded…financing should not be a problem.