CHA Eyeing the Creation of a Regional Tourism Investment Fund

The Caribbean Hotel Association (CHA) has contracted the British financial consultancy company, Capital Representatives, to prepare a white paper on the establishment of a prospectus for a Regional Tourism Investment Fund (RTIF).

Funded by a grant from the Foreign and Commonwealth Office of the British Government, the objective of the RTIF project is to develop a consortium of banks and financial institutions to create a fund dedicated to tourism interests in the Caribbean, CHA said in a statement.

The RTIF would allow mainly small businesses to gain access to investments, thus contributing to the development of tourism in the region and putting a larger share in the hands of Caribbean nationals.

The recommendations of the report would be presented at the upcoming Caribbean Hotel and Tourism Investment Conference (CHTIC) and PROFIT Partnership Meeting, to be held in Barbados May 9 through 11.

PROFIT will provide a major business-to-business event for the Caribbean tourism sector with special support for small, medium and large scale businesses to present projects to potential European investors and partners during pre-scheduled business appointments.

PROFIT is sponsored by ProInvest, a program of the Group of African,

Caribbean, and Pacific (ACP) States and the European Commission.

Throughout the month of April, the consultants will meet with financial experts and tourism stakeholders in the Caribbean and outside, including national hotel associations, governments, and hoteliers.