Belize is poised for a significant reshaping of its tourism industry with the unveiling of Olo Caye, an ambitious redevelopment of the former Stake Bank (Port Coral) scheme that fuses a world-class cruise port with a luxury resort under a single master plan.
Billed as a landmark investment in the country’s long-term competitiveness, the project aims to sharpen Belize’s standing among premier Caribbean destinations at a time when regional rivals are racing to capture a growing share of the cruise and high-end leisure market.
The development is being led by Piero Dibattista, a veteran operator with more than three decades in the sector. Dibattista is best known for his role in transforming tourism in Roatán, Honduras, where operations handled close to two million cruise passengers and some three million total annual visitors in 2025, delivering substantial economic returns alongside what the team describes as globally recognised standards for environmental stewardship.
Olo Caye’s business model rests on an unusual proposition for the region: the full integration of luxury hotel accommodation with first-rate cruise services, designed to create what its backers call a symbiotic guest experience. The intention is for the scheme to act as a catalyst for national development, broadening Belize’s competitive position while providing what the developers describe as meaningful and sustained economic access for Belizeans across the tourism supply chain.
“By bringing our tested expertise to Belize, we can ensure that Olo Caye is led by a team that has delivered world-class results in the Western Caribbean,” Dibattista said. He added that while his group would bring the visitors, it would be Belizeans who shaped the on-the-ground experience, with the company’s role confined to building the platform on which local talent and creativity could flourish.
Construction is set to move quickly from paper to practice. The first phase is expected to begin within weeks at a staging site on Mile 5 of the George Price Highway, which will serve as both an operational hub and staff accommodation. The groundwork has been preceded by extensive operational and logistical simulations intended to ensure efficient integration with site operations and local traffic flow.
Island works will follow under a reimagined master plan targeted for completion in early 2028. Headline features include two advanced piers capable of handling cruise ships and ferries, dedicated infrastructure to support local business growth, and retail and dining districts curated to showcase authentic Belizean culture. Accommodation and amenities capable of hosting global events are also in the pipeline, positioning Olo Caye as a potential MICE destination in addition to its leisure and cruise credentials.
The economic case is substantial. Developers forecast approximately 5,500 jobs during the construction phase, tapering to 750 permanent positions once the resort and port are fully operational, a footprint that would establish Olo Caye as one of the more significant single drivers of employment and economic activity in Belize’s recent history.
For the business travel sector, the scheme is likely to be watched closely as an indicator of whether integrated cruise-and-stay developments can deliver the mix of scale, sustainability and local economic benefit that destinations across the Caribbean are increasingly being asked to demonstrate.