Hotel News

New Tax Increases Could Impact Tourism

Print
A FORMER Chamber president yesterday questioned whether the Government could "make the hard decisions" necessary to achieve its key objective of bringing the debt-to-GDP ratio down to 40 per cent in the medium term, and warned it was "in danger of killing the goose that laid the golden egg" through the sharp tax increases on the hotel and auto industry.
Read more...
 

Bahamas Hotels Face Five-Fold Budget Hit

Print
THE BAHAMIAN hotel industry is facing a potential five-fold whammy, with the Government adding to increases in National Insurance Board (NIB) contribution rates, electricity costs and Out Island Promotion Board fees by increasing hotel room/guest taxes from 6 per cent to 10 per cent, along with an $5 increase in departure taxes.
Read more...
 

Prime Minister Unveils New Budget Priorities

Print
* Essential to Move Debt to GDP Out of Danger Zone

* Room Tax and Departure Tax to Increase

* Duty Reduced on Several Energy-Efficient Items

* Ministry of Tourism & Aviation Budget Down Over $2 Million

Delivering a somber message of fiscal constraint, reduced Government expenditures and increases in taxes, Prime Minister The Right Honourable Hubert Ingraham described a series of cost reduction and revenue raising measures today, most which are planned to begin to take effect in July once the new budget is in place.
Read more...
 

Bahamas Hotels Industry Stabilising

Print
THE Bahamian hotel industry maintained its "stabilisation" trend during April, Tribune Business has been told, with average occupancies for Nassau/New Providence hotels up by 2.6 percentage points and average daily room rates (ADRs) some 1.1 per cent ahead of 2009 comparatives.
Read more...
 

Baha Mar Gets Loan On 49 Conditions

Print
Baha Mar has 49 "conditions precedent" that it must fulfill to consummate its $2.6 billion Cable Beach redevelopment, the Prime Minister confirmed to Tribune Business, the most important being to resolve negotiations with Scotiabank over its outstanding $170-$180 million loan.
Read more...
 


Page 111 of 157