St Thomas Is Getting a New Resort Project
A major new resort project is coming to the island of St Thomas, Caribbean Journal Invest has learned.
By-the-Sea-Resort Properties LLC is developing a new 68-key independent boutique resort, set within the 397-acre The Preserve at Botany Bay residential development on the western end of St Thomas.
By-the-Sea is making a minimum of a $25 million capital investment in the project, which is slated to begin construction in July 2021.
Most notably, it’s a major new injection of energy into the USVI, where officials have been putting a renewed focus on engineering hotel development.
Now, there’s a growing pipeline of new hotels in St Thomas, most notably Noni Beach, which will be part of Marriott’s Autograph Collection, slated to make its debut in the summer of 2022.
The Virgin Islands Economic Development Authority’s EDC program approved tax incentives to help attract the project.
“We are delighted to see investors remaining interested in investing in our Territory despite the pandemic,” said Kamal I. Latham, CEO of the Virgin Islands Economic Development Authority. “This exciting new project in St. Thomas’ scenic Botany Bay reflects a significant vote of confidence in our Territory.”
The project will be comprised of a collection of cottages “to preserve and celebrate the existing flora and fauna,” according to Jesse Ferrer, owner of the hotel.
“We believe it will be particularly attractive to visitors seeking to have units that are separate from each other and in a serene and breathtaking natural environment,” Ferrer said.
Indeed, hotels structurally designed with “social distancing” built are likely to be a growing trend in the wider Caribbean.
“It shows that even during this uncertain time the USVI economic climate remains open to investment and, as an optimist, I think the tourism future for the territory is a bright one,” Ferrer said.
— CJI
