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Guam's story shared to hotel investment community

by Ken Quintanilla

Guam - Meeting with premier hotel investment community during the 2013 Hotel Investment Conference Asia Pacific (HICAP) last month proved successful in that island leaders were able to share the guam story to the over 800 attendees.

Guam Visitors Bureau general manager Karl Pangelinan however says not all the news was encouraging but it's what island leaders needed to here in order as it works to build more hotel rooms on Guam. "And some of those things are just our need for more diversification, our heavy reliance on one market, the Japan market, I think we were able to show that we have diversified but we need more Chinese and we need more Russians and that's something the Bureau is committed to," he said. "Additionally, Guam is not ready for a five-star hotel and that was the sentiment among a lot of the business development folks in the hotel industry. We told them and they're hopeful and see this commitment to reinvest back into the product."

This year alone, GVB will reinvest $3 million into landscaping, beach cleanings and security. He adds not all hope is lost as other opportunities still exist such as looking into boutique properties and high-end villa types. He says a feasibility study meanwhile will be conducted on several properties on Guam including the coveted Oka Point in Tamuning.

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