For years, the abandoned Stake Bank development project left Belize’s tourism sector grappling with uncertainty about the coastal site’s future. Today, that uncertainty is giving way to optimism, as a revitalized, rebranded initiative called Olo Caye steps forward to reshape Belize’s position as a top Caribbean travel destination.
Unlike the previous stalled effort, Olo Caye is built around a core promise of long-term, inclusive growth that centers local communities rather than external returns alone. The mixed-use development combines a purpose-built deep-water cruise port with a high-end luxury resort experience, a strategic design crafted to help Belize hold its own alongside competing Caribbean hotspots while opening new doors for local small businesses and workers.
Leading the project is Piero Dibattista, a veteran tourism industry executive with a proven track record of transforming regional travel landscapes. Dibattista previously played a key role in turning Roatán, Honduras, from a little-known coastal spot into one of the Caribbean’s most popular cruise and leisure hubs. Project backers highlight that decades of on-the-ground experience as a guarantee that the Olo Caye team understands both the complexities of managing large-scale cruise operations and the non-negotiable need for strict environmental protection standards.
According to project leaders, the mission of Olo Caye extends far beyond just increasing visitor numbers. The development’s core goal is to grow tourism responsibly, ensuring that local communities are direct beneficiaries of the sector’s expansion rather than bystanders. That forward-looking vision is already moving from planning to action: developers confirmed that preliminary work on a staging and operations hub along the George Price Highway is set to kick off within the coming weeks. That initial construction will clear the way for full island development, which is on track to be completed by 2028.
The full buildout includes a range of purpose-built infrastructure: new cruise and ferry piers, open-air retail and dining spaces curated to showcase authentic Belizean art, food, and culture, dedicated affordable commercial space for local entrepreneurs, and modern facilities capable of hosting large international events. Beyond these physical assets, the project’s most transformative impact is expected to be on Belize’s workforce. Olo Caye is projected to create thousands of construction jobs during the build phase, followed by hundreds of stable permanent positions once the development opens. That scale makes it one of the most ambitious private tourism investments in Belize’s recent history.
For supporters of the initiative, Olo Caye is more than just a new development—it is an opportunity to rewrite the story of the site and reimagine what sustainable, inclusive tourism can look like for Belize’s economy and its people.