State minister pitches Jamaica as prime Caribbean investment market at Miami hotel summit

Jamaica is casting itself as among the Caribbean’s strongest bets for patient capital, pairing steadier macro conditions, tougher institutions and a sweeping rebuild drive that is opening doors in several industries.

That case was put by Delano Seiveright, minister of state in the Ministry of Industry, Investment and Commerce, to a full ballroom at the Marriott International Luncheon during the 30th Annual International African American Hotel Ownership and Investment Summit and Trade Show at the Hyatt Regency Miami last Friday.

Seiveright said the island is no longer judged only as a holiday market and is winning recognition as a place where capital can be committed for the long haul. “Investors are looking for stability, predictability and partnership,” he said. “Those are exactly the fundamentals Jamaica has spent the past decade strengthening.”

He cited the island’s multi-year economic reset — public debt down from about 140 per cent of GDP at its high point to roughly two-thirds today, net international reserves above US$6 billion, unemployment at historic lows, and ongoing fiscal restraint — as proof that Jamaica’s economic base has been remade.

Those gains, he argued, also left the country able to answer Hurricane Melissa from a position of strength after roughly US$12 billion in damage, losses and extra costs. Far from stalling progress, he said the storm has sped up spending on tougher infrastructure once Jamaica locked in about US$6.7 billion in financing and backing from major multilateral partners for recovery and lasting reconstruction.

Delano Seiveright (centre), minister of state in the Ministry of Industry, Investment and Commerce, stood with industry figures — (from left) Matt Lawrence, director of strategy and development at DSH Hotel Advisors; Guillermo Ortega, investment associate at DSH Hotel Advisors; Richard Millard, former chairman and CEO of Trust Hospitality; and Florida businessman Frank Merchie — after speaking at the 30th Annual International African American Hotel Ownership and Investment Summit and Trade Show in downtown Miami, Florida, last Friday.

“This is about building a stronger Jamaica, not simply rebuilding the old one,” he said.

The state minister also flagged work underway on roads, airports, logistics assets and digital modernisation, plus the creation of the National Reconstruction and Resilience Authority (NaRRA) to steer large rebuild schemes and harden the country against later shocks.

He linked rising investor comfort abroad to safer streets at home, including lasting drops in serious crime and a United States move to lift Jamaica’s travel advisory.

Seiveright further pointed to expanding Jamaican corporate champions such as Sandals Resorts International, GraceKennedy, Musson Jamaica and Seprod, and to fresh commitments from overseas names including Amrize, Excelerate, Pinnacle, Marriott, Hyatt, Princess Hotels & Resorts, Palladium Hotel Group, Catalonia Hotels & Resorts, RIU, Bahia Principe and UNICO, as signs that belief in Jamaica’s long-run outlook keeps deepening.

He urged the luncheon crowd — scores of hotel owners, developers, institutional investors, lenders, private-equity professionals, executives and officials from the United States, the Caribbean and further afield — to look past familiar tourism strengths and weigh hospitality, mixed-use projects, logistics, manufacturing, business services and other fast-growing fields.

“There has never been a better time to invest in Jamaica,” Seiveright said. “The fundamentals are stronger, our institutions are more resilient, our infrastructure is expanding, and our Government remains committed to working alongside investors to unlock long-term growth.”

The summit, staged by the National Association of Black Hotel Owners, Operators and Developers (NABHOOD) and led by Florida businessman Dr Andy Ingraham, ranks among the United States’ foremost gatherings for hospitality capital and hotel ownership.