2024’s Luxury Hotel Boom in LatAm and the Caribbean

2024 is poised to be a transformative year for luxury hotels in Latin America and the Caribbean.

The region anticipates a significant increase in high-end hotel options. This growth signals an optimistic future for the sector.

Tourism in Latin America is rebounding, largely thanks to young travelers, including younger Millennials and Generation Z.

The recovery has reached 85% of pre-pandemic levels. By 2024, the industry is expected to return to its pre-2020 activity levels, as the World Tourism Organization projected.

Several well-known global chains and exclusive boutique properties are expanding in the region.

Key upcoming openings include:

Hyatt Regency Panama City

This expansion by Hyatt Hotels Corporation will be in Panama City’s financial district.

The hotel is near the Multiplaza and the new Convention Center. It will offer 382 rooms and suites, a pool, a fitness center, various dining options, and extensive event space.

Zemi Miches All-Inclusive Resort, Punta Cana

Hilton’s first all-inclusive property from the Curio Collection will open in the Dominican Republic. Owned by Zemi Hotels & Resorts, S.R.L., it will feature 502 rooms.

St. Regis Cap Cana, Dominican Republic

Opening in spring 2024, this resort will provide 200 hotel rooms and 70 luxury vacation homes. Guests will enjoy 24-hour services, several pools, an exclusive spa, a beach club, and wellness facilities.

Casa Lucía, Buenos Aires, Argentina

Set in the historic Edificio Mihanovich, once Latin America’s tallest building, Casa Lucía will open in January 2024.

The hotel will offer 142 rooms and suites, blending elegant furnishings with its historical roots and contemporary art.

Soho House, São Paulo, Brazil

Soho House’s expansion to São Paulo in spring 2024 follows its Mexico City opening.

The boutique hotel will have 36 rooms, a rooftop pool and bar, a restaurant, and an exclusive club.

Nekajui, Ritz-Carlton Reserve, Costa Rica

Located on the Papagayo Peninsula, this ultra-exclusive property will prioritize craftsmanship. It will feature outdoor terraces, plunge pools, and bay views.

Waldorf Astoria Residences Guanacaste, Costa Rica

Waldorf Astoria’s first property in the country will be on the northwest coast. The resort will include condominium residences and cottages, focusing on sustainable living and the “pura vida” lifestyle.

XELA, Tulum, Mexico

Recently launched by Namron Hospitality, XELA offers a modern Mexican ambiance. Guests will enjoy a private beach, a rooftop bar, a restaurant, and spa access.

2024’s Luxury Hotel Boom in Latin America and the Caribbean

Further, the Four Seasons Resort Peninsula Papagayo in Costa Rica has undergone a multimillion-dollar renovation, adding a new beach club and expanded wellness offerings.

Four Seasons also plans new properties in Belize, Los Cabos, and Cartagena.

In early 2024, Nhow will open a new hotel in Lima, Peru, blending urban charm with natural beauty.

Mexico City will see about 17 new hotels, including three City Express, two Marriott, a Westin, and a Hyatt.

The Riu Palace Aquarelle in Jamaica, Waldorf Astoria in San Miguel de Allende, Mexico, and the upgraded InterContinental in Honduras underscore the region’s growing luxury hotel scene.

Margaritaville and Karisma Hotels & Resorts will also debut a new all-inclusive resort in Roatán, Honduras, in 2025.

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