Hard Rock has officially opened its doors in Mexico with the re-flagging of two all-inclusive resorts, Hard Rock Hotel Cancun and Hard Rock Hotel Vallarta. Each Hard Rock Hotel Mexico location is a beachfront property that features what has been described as unmatched, all-inclusive luxury accommodations including in-room double Jacuzzis, fine dining, live entertainment and much more.
Hard Rock Hotels also feature an extensive collection of authentic memorabilia from international and local music artists, while incorporating diverse music genres throughout. Additionally, in keeping with the Hard Rock tradition, each property will host an on-going schedule of live concerts, celebrity driven events and other exciting on-site activities.
A newsletter from the website Everything St. Maarten.com by Publisher Jeff Berger, over the weekend reported that the Hard Rock takeover of Simpson Bay Resort & Hollywood Casino may be closer than thought.
As mentioned in a previous commentary, the Hard Rock International brand will be a plus for Sint Maarten if all goes well with the acquisition. A reported overall expansion of the current Pelican property by an additional 150 to 200 rooms, an investment of around US$85 million, would be a very much welcome investment into the country’s economy, especially for the construction sector during this phase.
Hard Rock International brand has 173 venues in 53 countries, including 138 Cafes and 15 Hotels/Casinos.
The welcome branding and expansion of the resort would be a positive economic development for the country. The International Monetary Fund (IMF) in its quarterly update to its World Economic Outlook expects the world economy to expand 3.5 per cent this year, and that’s slightly down from its previous estimate of 3.6 per cent in April.
The IMF has also cut its forecast for global growth to 3.9 per cent in 2013, from 4.1 per cent three months ago. The IMF also warned that the United States could fall back into a recession next year if the US Congress doesn’t deal with a pending fiscal crisis that comes due at the end of the year. The 17-country Eurozone appears to be heading for its second recession in three years.
With all of the aforementioned going on, the business community of Sint Maarten has been resilient in these trying times which have tested our entrepreneurial spirit. The longevity of the global economic slowdown that broke in the latter half of 2008, and didn’t impact our country until the latter part of 2009, has allowed us to take stock and re-model the way we do business.
As the Barbados Prime Minister Freundel Stuart recently pointed out at the Barbados Network Consultation 2012; a recession, though painful, provided opportunities for countries to achieve new areas of growth.
"A downturn or recession forces all those who produce goods to become more creative, efficient and competitive, in terms of quality and price, for purposes of survival. (The recession) also makes space for innovation," Stuart noted.
Hard Rock International’s interests demonstrate confidence in the economic vitality of the country with respect to long-term growth and a great return on investment. Interests by the American Clinic in the development of medical tourism, is one of those opportunities that Prime Minister Freundel mentioned that comes from a global recession in achieving a new area of growth for our national economy.
Medical tourism will catapult the country into a new sphere of economic growth and prosperity over the long-term for the people and the country. Friends and family members from medical tourists will need a place to stay while their love one is being treated, and Hard Rock International hotel and other hotels and businesses on the island will all benefit from the tourism economy linkages.