If the ferocity of this year's winter is any reminder, there's a reason millions of American and Canadian "snowbirds" head south each year for the winter months.
I'm not a very good golfer. Yet, I probably spend more time on the links than just about any professional golfer in the world...because of the fact that I spend so much time in the rough, searching for my ball!
Puerto Rico's commercial real estate market continues to go through a bumpy recovery in 2014.
Puerto Rico plans to expand its cruise ship pier to accommodate the new line of mega-cruise ships capable of handling more than 6,000 passengers. Governor Alejandro Garcia Padilla said this week that Puerto Rico will spend $8.7 million to extend the cruise ship pier.
New York-based investment firm Paulson & Co. has acquired a majority stake in The St. Regis Bahia Beach Resort, Puerto Rico and the Bahia Resort & Golf Club. The amount of Paulson's investment was not revealed.
The Caribbean hotel market is increasingly attracting interest from developers and vacationers.
The largest marina in the Caribbean is scheduled for a $450 million renovation, after new owners bought the facility out of bankruptcy. Putnam Bridge Funding LLC plans to improve the infrastructure and facilities at Puerto del Rey Marina in northeast Puerto Rico.
The Caribbean and Mexico's total active hotel pipeline has more than doubled in the last six months.
An investor purchased a six-story building in the Prospect Park South neighborhood of Brooklyn for $11 million. The 1926 elevator building with 83 apartments was purchased by 1834 Caton, according to the New York Times.
According to STR Global, the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for 2012. In 2012, the Americas region reported a 2.4-percent increase in occupancy to 61.5 percent, a 3.8-percent gain in average daily rate to US$108.53 and a 6.3-percent jump in revenue per available room to US$66.77.
Hyatt recently announced plans to have Hyatt Place Manatí open in early 2014, representing the company's second Hyatt-branded select service hotel in Puerto Rico. The new hotel, currently under construction, will join Hyatt Place Bayamón Hotel & El Tropical Casino when it opens.
This week the Puerto Rico-based San Gerónimo Caribe Project, Inc. announced the re-launch and commencement of construction of Paseo Caribe. The open-air, waterfront retail and high-end residential property is undergoing a complete revitalization as a result of the collaborative business relationship between the stakeholders.
Based on data from STR Global, the Americas hotel market recorded positive results in the three key performance metrics when reported in U.S. dollars for November 2011.
The RE/MAX network continues to expand its reach around the world, announcing five new offices in four countries in the Caribbean and Central America. RE/MAX is now in more than 80 countries, after increasing franchise sales nearly 30 percent in 2010 and outdistancing all competitors.
