Issue link: https://digital.copcomm.com/i/1545782
strong, airlift continues to expand, and our incentive pro- grams provide meaningful tools to help developers advance projects that increase room inventory, create jobs and strengthen the Territory's economy." A major focus of the presentation was the suite of incentive programs administered by VIEDA that may support hotel and resort develop- ment. These include the Hotel Development Act (HDA) Program, which supports eligible new hotel projects, renovations, reconstruc- tions, related marine facilities and energy-gen- erating equipment. Through HDA, future hotel occupancy and casino tax revenues may be reinvested into approved projects through a dedicated trust fund. The program also allows for an Economic Recovery Fee, an additional guest fee that may support new hotel development, renovation or reconstruction, including assist- ing developers in securing financing or fund- ing construction. For eligible projects, HDA may also be paired with other VIEDA-administered incentive pro- grams, including the Economic Development Commission (EDC) Tax Incentive Program and the South Shore Trade Zone (SSTZ) Program. These programs may provide qual- ifying businesses with significant reductions in income taxes and exemptions from certain property, excise, gross receipts and customs duties. The combined use of hotel development financing tools and tax incentive programs has already supported major hospitality projects in the Territory. The Ritz-Carlton, St. Thomas, and The Westin Beach Resort & Spa at Frenchman's Reef/Buoy Haus Beach Resort utilized these tools in connection with recovery efforts following the 2017 Category 5 hurricanes Irma and Maria. The Hampton by Hilton on St. Thomas, which opened in August 2025, also reflects the role these programs can play in supporting new hotel development. The SSTZ Program has also demonstrated that it can help fuel hotel development on St. Croix. On April 16, 2026, the Enterprise Zone Commission Board approved the first new hotel project under the South Shore Trade Zone Program. Once completed, the project is expected to add approximately 130 hotel rooms to the Territory's inventory. "Hotel development is not only about adding rooms," Biggs said. "It is about creating jobs, supporting local sup- pliers and strengthening the Territory's long-term compet- itiveness." For more information about investment opportunities and incentive programs in the U.S. Virgin Islands, visit www.usvieda.org or email info@usvieda.org. VIEDA SHOWCASES THE USVI AS A LEADING HOSPITALITY INVESTMENT DESTINATION AT ALIS CALA 2026 Projected 16.5% nonstop flight growth and robust tax incentives position the Territory as a competitive choice for hotel development in the Caribbean VIEDA Chief Executive Officer Wayne L. Biggs, Jr. pres- ents U.S. Virgin Islands hotel development and investment opportunities during ALIS CALA 2026 in Coral Gables, Florida. Photo courtesy of Hotel Investment Group by Northstar. The Virgin Islands Economic Development Authority (VIEDA) recently promoted the Territory as a prime destina- tion for hospitality investment at ALIS CALA 2026, the pre- mier hotel investment conference for the Caribbean and Latin America region. Held April 28-30, 2026, at the Loews Coral Gables Hotel in South Florida, ALIS CALA brought together more than 550 delegates from over 35 countries, including senior executives, developers, lenders, equity investors and hospitality decision- makers. VIEDA participated as a Platinum Sponsor. Over the three- day event, a team led by Chief Executive Officer Wayne L. Biggs, Jr. engaged with investors, developers, and hospitality representatives interested in opportunities in the U.S. Virgin Islands. During the conference, CEO Biggs delivered a featured presentation titled "Investment Opportunities in the U.S. Virgin Islands," highlighting the Territory's tourism per- formance, airlift capacity, hotel inventory, development pipeline and business advantages for hotel investors. The presentation noted a projected 16.5 percent increase in nonstop flights from the continental U.S. in 2026 when compared to 2025. "The U.S. Virgin Islands remains one of the most attrac- tive destinations in the Caribbean for hotel development and investment," said CEO Biggs. "Our tourism sector is B M & T ••• July/August 2026 ••• www.blackmeetingsandtourism.com 45 CARIBBEAN CORNER