Jamaica to See Over US$2 Billion in New Investments from Spanish Investors in 2024
By: , January 29, 2024
Photo: Contributed
Minister of Tourism, Hon. Edmund Bartlett (2nd R) is presented with plans for the expansion of Grand Palladium Resort in Hanover with two new luxury Hotels totaling near 1,000 rooms by Abel Matutes, President of Palladium Hotel Group (2nd L). Sharing in the moment are (L) Delano Seiveright, Senior Advisor and Strategist, Ministry of Tourism and Salvador Ortiz de Montellano (R), Director of Palladium Hotel Group. The presentation took place at the Gran Melia Palacio los Duques in Madrid, Spain, on Friday, January 26.
Photo: Contributed
Minister of Tourism, Hon Edmund Bartlett (C) presented copies of his book on Global Tourism Resilience to Jose Luque (L) and Salvador Luque (R) following presentation of their 700 room luxury Secrets Resort development in St Ann to break ground this year. The presentation took place at the Gran Melia Palacio los Duques in Madrid, Spain, on Friday, January 26.
Photo: Contributed
Minister of Tourism, Hon Edmund Bartlett (C-Front) pauses for a photo with Head of Inverotel, Mrs. Encarna Pinero (1st R-Front), other heads of Spanish hotel chains and Senior Tourism officials from the Ministry of Tourism and Jamaica Tourist Board.The Full Story
On the heels of the most successful participation at FITUR in Madrid, Minister of Tourism, Hon Edmund Bartlett has announced the largest Spanish investment of over US$2 billion.
The move will create approximately 19,000 new jobs in construction and tourism services.
Minister Bartlett and his team concluded negotiations with three major Spanish hoteliers who are now in advance stages of development approval in Jamaica for groundbreaking events this year.
The projects will see luxury rooms in Lucea Hanover by Grand Palladium; housing units for tourism workers; a Convention Centre; entertainment facilities; and golf courses among other amenities.
“This is indeed a testament to the confidence our Spanish hotel partners have in the destination. As they continue to grow their businesses on the island, it will increase the economic benefits for the communities and at the national level. It simply means more jobs and more product offerings to fill the increased demand for Jamaica’s tourism,” said Minister of Tourism, Hon Edmund Bartlett.
For Bahia Principe in Runnaway Bay St Ann, lead by Spain’s Pinero family, there will be two new luxury hotels and cosmopolitan villas with a residential community; fisherman village; PGA golf course; private schools and entertainment; dozens of swimming pools; and walking trails.
This development will employ 12,500 workers.
Luxury brand Secrets resorts will construct several hundred rooms in Richmond St Ann, employing 2000 persons.
In July 2008, the Grand Palladium Jamaica Resort & Spa opened its doors.
The initial investment amounted to $220 million, boasting 1,054 rooms across two properties.
The luxury Secrets Resorts and Spas hotel chain began its operations in 2010 with its 700 side by side Secrets Wild Orchid and Secret St. James brands in Montego Bay.
“I am also pleased that these new expansion projects have Environmentally Sustainable Governance principles and a social development focus. Activities like farming and more community inclusivity will ensure a more sustainable approach to increasing their footprints and have social initiatives that will benefit our tourism workers,” added Minister of Tourism, Hon Edmund Bartlett.
The Minister met with all the current investors from Spain at the Grand Melia Palacio De los DUQUES in Madrid Spain where these investments projects were presented and confirmed.
The Bartlett led a small delegation of Tourism officials at FITUR 2024, in Madrid, Spain, a major tourism fair with 8,000 exhibitors, 130 countries represented and over 300,000 attendees.
It represents one of the largest gatherings of tourism professionals globally and is the leading fair for Latin America’s receptive and issuing markets.