About the Award

The HOLA Development of the Year Award recognizes a newly built, redeveloped, or repositioned (after significant product renovations and/or enhancements) hotel that opened, reopened, or completed their repositioning in the Latin American region between January 1, 2022 and December 31, 2022. Development nominations are reviewed according to specific ranking criteria by the HOLA Development of the Year Award Committee to determine the three finalists. The finalists’ information is then reviewed and voted on by delegates of HOLA to determine the winner, whom will be announced at HOLA on May 25, 2023.

Ranking Criteria

Nominations are reviewed according to the following criteria, so it is important that each and every question is answered as comprehensively as possible:

• Pioneering: Was the project developed in a new market or pioneering destination?
• Cost: What was the total development cost?
• Size: What was the total number of rooms?
• Project Complexity: How many uses were developed (e.g. stand-alone vs. mixed-use)?
• Timeliness: Was the project completed on time?
• Project Budget: Was the project completed on budget?
• Economic Impact and Sustainability Initiatives: How many direct jobs were created? Were there any identifiable sustainability efforts/initiatives implemented?
• Innovative Design: Were there any creative/unique design elements implemented?
• Public Relations: What has been heard about the project? What was the level of anticipation for its opening?