This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Best Western Opens Hotel In Impoverished Haiti

PORT-AU-PRINCE, Haiti (AP) â¿¿ A U.S. hotel chain opened a hotel in Haiti on Thursday for the first time in 15 years.

Best Western International has completed construction on a $15 million, seven-story hotel that features 106 guest rooms and several suites.

The towering facility is located in the hillside district of Petionville and is targeted at the business traveler.

The new hotel is part of a larger hotel boom in Haiti that has taken hold since the earthquake in 2010 destroyed thousands of buildings.

To date, developers are building or planning at least seven hotels and many hope that the businesses will create thousands of jobs in a country where unemployment hovers around 60 percent. Together, the projects add up to more than a $100 million investment.

In December, the Royal Oasis, run by Spanish firm Occidental Hotel & Resorts, opened as an upscale hotel a few blocks from the Best Western Premier now stands. The Marriott International, also in December, began construction on a $45 million hotel that's scheduled to open in 2015.

Even before the earthquake, which officials say destroyed more than 800 hotel rooms, it was difficult to find hotels in Haiti that met international standards. Those that did were often filled with diplomats and humanitarian workers.

The last U.S. hotel chain to run a hotel in Haiti was the Holiday Inn. It closed in 1998 because of political instability.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,191.01 -97.62 -0.53%
S&P 500 2,108.43 -8.96 -0.42%
NASDAQ 4,981.6210 -26.4750 -0.53%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs