Hotel developments can take various forms, depending on the target market, location, investment strategy, and intended use.
Full-service hotels, such as can be found within luxury resort areas, offer a wide range of amenities, including restaurants, room service, conference facilities, gyms, and are focussed on business travelers, tourists, and conference attendees.
Limited-service hotels typically don’t offer on-site restaurants or extensive leisure facilities, and are aimed a the budget-conscious traveler, or those looking for a more simple and cost-effective stay.
Boutique hotels will usually have a unique design or purpose, often associated with the location, character, and even the owner who may be a famous personality.
Luxury hotels are high-end accommodation as inferrred by the title to offer exceptional services, and all the luxury amenities one would expect such as fine dining, spas, private pools, and concierge services.
Affluent tourists, business executives, and travelers seeking premium services and exclusivity would more than likely be foyund using a hotel that comes under the luxury category, hotels such as Five-star hotels, and brands like Ritz-Carlton and Four Seasons.
Resort hotels are located in leisure destinations (beaches, mountains, or resorts), and these hotels provide recreational amenities like golf courses, pools, spas, and activities.
Extended-Stay hotels, such as Residence Inn by Marriott, offer accommodations designed for longer stays, featuring larger rooms with kitchenettes or full kitchens, and are aimed at people who are relocating, or guests needing temporary housing.
Select-Service Hotels, such as Courtyard by Marriott and Hampton Inn, are similar to limited-service but may offer some extra amenities like a small breakfast bar or convenience shop.
Mixed-use developments are integrated into larger complexes that include other types of real estate such as offices, retail spaces, and even residential areas. These offer an all-in-one urban experience, often encompassing the skyscrapers or properties combined with shopping malls or residential buildings.
Convention center hotels, that are located next to or within convention centers and are designed to accommodate large groups for events, conferences, and conventions, and cater to conferences, corporate sessions, and exhibitors.
Each type of hotel development caters to a wide range of market needs, from budget stays to high-end luxury experiences.
Why Buy or Invest in New New Real Estate Developments in Puerto Rico.
Puerto Rico offers various tax incentives that are incredibly beneficial for real estate investors such as Act 60 (formerly Acts 20/22), whuich refers to Investors who relocate to Puerto Rico can receive significant tax breaks, including exemptions on certain types of income and capital gains. This makes the island particularly attractive to wealthy investors and businesses looking to reduce their tax burden.
Puerto Rico has several areas designated as Opportunity Zones, offering federal tax incentives for real estate development and investment.
Puerto Rico has long been a popular beach based tourist destination, and this trend has been accelerating. With continued investment in infrastructure and tourism, demand for vacation homes, short-term rentals (like Airbnb properties), and hospitality-related real estate is on the rise. A booming tourism and resort orientated industry directly translates to increased rental potential and property value growth.
Puerto Rico has seen an influx of new development, including luxury condos, luxury residential gated communities, hotels, and mixed-use properties. These developments are supported by both public and private investment in modern infrastructure like roads, airports, and utilities. This makes real estate investment appealing, as these new properties benefit from higher standards and amenities that attract both locals and tourists.
Puerto Rico is a U.S. territory, which means that U.S. laws apply to real estate transactions. Investors can avoid some of the complications associated with investing in international markets, such as dealing with different legal frameworks or currency risks.
