By
Elly Yates-Roberts |
Royal Caribbean Cruises Ltd. (RCL) and tourism infrastructure developer ITM Group have partnered to create a new destination company called Holistica. It aims to meet the needs of coastal communities, local governments and travellers.
Holistica Destinations will be a 50/50 partnership between RCL and ITM Group. The partners have commenced a search for a CEO for the new company, which will be headquartered in Miami, Florida.
“The continuing growth and rising popularity of cruise vacations make it clear that the sustainable development of coastal destinations, including the thoughtful evolution of existing ones, is in the travel industry's best interest," said Michael Bayley, president and CEO of RCL. “We have spent five decades learning what works and what doesn't and we know the potential of strategic development to deliver extraordinary guest experiences and meet the needs of local communities."
Holistica's first project is a US$275 million development in Freeport, The Bahamas. Focused on the regeneration of the Grand Lucayan resort, the project includes plans for local employment, training, community investment and sustainable construction practices.
The new venture will also own and operate destinations in Costa Maya, Mexico; Roatan, Honduras; and Kumamoto, Japan.
“A well-designed destination brings economic benefits to communities and cultural enrichment to travellers, while creating the least possible disruption to the human and natural environment,” said Mauricio Hamui, CEO of ITM Group. “There is a way to do these projects inclusively, collaboratively, and sustainably – and those are the characteristics this new partnership is meant to embody.
“The timing is right for a venture of this type. A collaborative development approach, paired with meaningful private financial resources, gives local destinations the opportunity to grow the right way."