Market Data

Caribbean is the most tourism dependent region in the world
Gross tourism revenues greater than 33% of exports
Estimated tourism employment at 2mm and more than 50% of labor force in some areas

Lodging brands changing or revising their business model
Original focus on generating income through operating fees
Recent focus on licensed use of brands in residential context in exchange for future share of real estate sales

In 2020, there were over 40 million American households comprised of individuals 50 and older who owned their main residence, of which 15 percent, or 6.6 million households also owned a vacation home
Most vacation homeowners either inherited their homes or purchased them with cash. Vacation home mortgage originations comprised less than 5 percent of overall mortgage market originations. In aggregate, there is more than $125 billion in outstanding mortgage debt on vacation homes