Caribbean Luxury Resorts in Trouble?

November 20, 2008

by Roberta Murphy

For those who still haven’t made travel plans, there may be some surprising resort bargains to consider–while other large and super-luxurious resorts are stalled under construction and financing difficulties.

Crisis in Paradise via Breitbart shares some disturbing news:

• Cap Cana, a luxury resort under development in the Dominican Republic is now reportedly paralyzed. A mega resort with four luxury hotels, villas (with roof tiles on the ground), three golf courses and a large yacht marina, Cap Cana is just one of many luxury resort projects “affected by the economic tsunami that has paralyzed the global financial markets,” said Cap Cana President Ricardo Hazoury.

• Also stalled in the Ritz Carlton Molasses Reef Resort in West Caicos. This luxurious project with hotel, condos and marina is three-quarters complete.

• The massive Atlantis Resort in the Bahamas has laid off 800 workers, blaming low occupancy rates.

• The Wyndham Nassau Resort has laid off 40 employees–presumably for the same reasons.

• Puerto Rico’s Caribe Hilton is also laying off employees because of rising cost and those pesky occupancy issues.

If reasonable air fares can be snagged, this could be the year for luxury travel bargains!

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