Puerto Rico Holds First Tourism Investment Conference and Launches Properties Catalogue

Puerto Rico Holds First Tourism Investment Conference and Launches Properties
Catalogue
Jean Claude Baumgarten, President of the World Travel Tourism Council and John
McCarthy, CEO of Altavista Partners Deliver Keynotes

SAN JUAN, Puerto Rico, Dec. 4 /PRNewswire/ -- The Puerto Rico Tourism
Company (PRTC) is to proud to announce the opening of Puerto Rico's first
Tourism Investment Conference, being held at the Puerto Rico Convention Center
today and tomorrow, December 4-5, 2007. The conference has attracted
international, high-profile participants and sponsors and is encouraging an
unprecedented dialogue amongst local industry representatives and
international investors. The conference, showcasing Puerto Rico's tourism
product and development opportunities, is positioning the Island as the ideal
destination for international investment and the development of large-scale
tourism projects.
Keynote speakers include John McCarthy, president of Altavista Partners
and ex-Director General of FONATUR and Jean Claude Baumgarten, President of
the World Travel & Tourism Council (WTTC). Both are internationally known and
have held significant positions in the field of tourism investment. Baumgarten
will deliver the luncheon address today, December 4th and McCarthy tomorrow,
December 5th.
The Puerto Rico Investment Conference is serving as an opportunity to
discuss future development projects and provide details about Puerto Rico's
investment benefits, tax exemptions and credits that are available through
Puerto Rico's Tourism Development Act (TDA). Representatives from the most
respected hotel chains on the Island are sharing their development
experiences, and experts from the public and private sectors are discussing
the many investment opportunities available in Puerto Rico. Delegates are
primarily investors, developers, constructors, hoteliers and other prominent
national and international tourism industry executives.
"We are excited to demonstrate our competitive advantages to the world and
meet face-to-face with potential investors," said Terestella Gonzalez Denton,
Executive Director of the Puerto Rico Tourism Company. "Puerto Rico is ripe
for development, with future projects for tourism investment representing a
total of over $2.5 billion and over 3,000 rooms."
Highlights of the conference include the official presentation of PRTC's
Properties Catalogue, an innovative resource that highlights a number of
government-owned properties available for potential tourism development
projects. The Catalogue, produced by Colliers International, includes eight
properties, which are currently being held by the government. The analysis of
each of the properties includes the potential for transformation usage, the
physical condition of each structure, as well as its capacity and its legal
status, amongst other details. Site visits to the properties will also take
place following the conference.
Properties included in the Catalogue are areas recognized for their
important ecological value such as the old Guayate correctional facility in
the Cayey Municipality, the old prison administration building of Guanajibo in
the Cabo Rojo Municipality and the La Pared hacienda in Luquillo, amongst
others. Developments planned for each of these properties will be in line with
the environmental laws and regulations applicable to each property.
"Celebrating the first event of this magnitude and international scale is
a very important step in positioning Puerto Rico as an economic powerhouse, as
well as helping to develop our local tourism industry," said Gonzalez Denton.
"The support we've received from Governor Anibal AcevedoVila and our sponsors
reaffirms the importance of tourism as an economic driver for the Island."
The conference program has been developed by PRTC, in conjunction with Jim
Burba, President of Burba Hotel Network. The firm specializes in the
development of tourism real estate projects and has organized over 60 tourism
investment events worldwide. The conference seminars and panels highlight
Puerto Rico's competitive advantages, how to conduct business in Puerto Rico
and how to utilize the Property Catalogue, in addition to providing
demonstrations and scale models of ongoing projects. The conference is
highlighting investment opportunities for developments in the San Juan
metropolitan area and throughout other parts of the Island.
Fourteen local and international companies are official sponsors for the
conference. Sponsors include American Airlines, Luxury Resorts & Hotels (LXR),
Caribbean Property Group and Caribbean Business in the Diamond Sponsor
Category; Colliers International and First Bank in the Silver Sponsor
Category; and Ballard Spahr Andrews & Ingersoll, Global Hotel Network, UBS,
The Hilton Family, Marriot, Wyndham Hotels & Resorts and Aquarius Vacation
Club in the Gold Sponsor Category.
PRTC also launched an official event website,
www.tourisminvestmentconference.com. Users have access to all conference
information, including registration and sponsorship information. The website
includes a detailed event agenda, a list of conference participants and
opportunities for exhibitors.
For travel between Puerto Rico and the United States, No Passport Is
Required. For additional information about Puerto Rico, call (800) 866-7827 or
visit www.GoToPuertoRico.com.
The Puerto Rico Tourism Company (PRTC), founded in 1970, is a public
corporation responsible for stimulating, promoting and regulating the
development of the tourism industry. It markets Puerto Rico as a tourism
destination through advertising, public relations and promotional activities;
promotes tourism among local residents; provides visitor orientation and
technical assistance to investors; evaluates tourism facilities and
establishes standards of quality; and regulates and oversees gaming
operations. PRTC has offices and representatives in the U.S. mainland,
Canada, Europe and Latin America.

Contact: Matthew Frappier
Edelman
212.819.4802
Matthew.Frappier@edelman.com

SOURCE The Puerto Rico Tourism Company

Matthew Frappier, Edelman, +1-212-819-4802, Matthew.Frappier@edelman.com, for
The Puerto Rico Tourism Company