Karisma Hotels and Resorts is investing $1 billion in Jamaica’s tourism sector.

The company has indicated that it intends to use the investment towards a hotel development called “Sugar Cane Jamaica” outside of Ochos Rios over the next decade.

Prime Minister Andrew Holness welcomed the investment, saying that he is looking forward to the company’s built-out in Jamaica, offering unique experiences to our visitors.”

“Jamaica is attaining the critical mass to maintain its competitiveness with increased room stock, availability of airlifts and easier transportation via sea, air and land,” he said.

Karisma’s Chairman, Rafael Feliz, said that the company plans to construct 5,000 rooms for its “Sugarcane Project.”

He noted that the hotel development is a testament to “our belief in the future of Jamaica’s tourism.”

“We have been getting nothing but some wonderful assistance and we are really proud to be doing our part in helping to bring more visitors to the island,” he said.

Tourism Minister Edmund Bartlett called Karisma a “very reliable partner,” and said that the company’s investment in Jamaica “remains one of the largest single tourism investments the country has ever seen.”

“An investment of US$1 billion is significant in any language,” said Bartlett. “We are proud to have partners like these– partners, who walk the walk and talk the talk and who are more than ready to take us to that next big level where we are indeed the destination of choice in the Caribbean.”

Karisma Hotels & Resorts plans to operate 35 resorts worldwide by 2020, building on recent growth in the Caribbean and Mexico.

The company has 26 properties in Latin America, the Caribbean and Europe under several brands, including El Dorado, Azul, Generations, Sensatori and Nickelodeon.

— Dana Niland, CJ Contributor