International delegates have praised the "warm welcome" of Bermudians as they meet for the 13th Annual Caribbean Hotel and Tourism Investment Conference this week.

The event, being held for the second time on the Island, brings together hoteliers, tourism officials, developers and financiers in order to network and plan investment strategies for the region.

President of the Bermuda Hotel Association and the general manager of the Fairmont Hamilton Princess, Jonathan Crellin, greeted delegates at the Fairmont Southampton in his role as master of ceremonies.

"It's a privilege and a pleasure to welcome you and your fellow Caribbean colleagues," he told those present.

"Having this important and prestigious conference here this week is of great privilege to Bermuda. We appreciate having you with us."

Enrique De Marchena, president of the Caribbean Hotel and Tourism Association (CHTA), praised the "very warm welcome" extended to delegates from the people of Bermuda.

Mr. De Marchena, from the Dominican Republic, said although the economic downturn posed difficulties, he was confident the region's tourism industry would rise to the challenge.

"This is a very perilous time in the history of the global economy, a time when the investment community is being challenged," he said.

"The financial markets are for the moment dry.

"It is also clear that people are holding back their decision to travel, waiting until the last minute to decide if they will. But we are here because we know there are solid and sound bases for opportunity in the Caribbean."

Mr. De Marchena said those in the industry needed to "understand the importance of airlift and better public infrastructure, and security and health."

Referring to the Government of Bermuda's official opening of the East End Urgent Care Centre this week, he said: "I therefore congratulate the Premier (Ewart Brown) for that."

He added: "We are a vibrant industry which will turn around and flourish as the economy stagnates. That is why it is important we are here today."

John Maginley, chairman of the Caribbean Tourism Organisation (CTO) Council of Ministers and Commissioners, said this week's conference would "highlight businesses and investment opportunities in the region".

Mr. Maginley, Minister of Tourism, Civil Aviation and Culture for Antigua and Barbuda, praised "the very warm embrace we have received here in this safe haven of peace and tranquillity".

He said: "There's no doubt that this conference comes at a very difficult time for people and world tourism, and the global economy as a whole.

"There is uncertainty surrounding a recovery from the current recession, and the fact that millions of people around the world are losing their jobs means fewer people are travelling. And those who do travel are spending less.

"This poses several key challenges for the tourism sector. With less revenue we have less to spend on marketing. This calls for creativity and innovation, and cooperation between the public and private sectors.

"It calls for everyone involved airlines and hotel operators and other stakeholders, to come together as a matter of urgency and to be ready for when people are travelling and spending again."

Mr. Maginley said another challenge was there was less money to spend on (tourism/hotel) product development.

"But at the same time we must ensure the level and quality is one we can boast about and which they (the tourists) can also boast about," he said.

"More than ever before we must be inventive to attract investment."