Caribbean hotels saw their profits decline by an average of 16% in 2008, with additional declines forecast for 2009, according to a report by PKF Hospitality Research. The region has seen a 4% drop in visitors, despite efforts to lure guests with discounts and special packages. As many as 50 planned construction projects will most likely face delays, the report finds, as developers are having trouble obtaining financing from skittish lenders.

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