Hotel News

Trends Are Looking Up For Hotels

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Trendline Shows Hotels Moving Towards 2008 Performance Levels

Most of the nation's hoteliers reported significant declines in key performance indicators in 2009 but expressed considerable optimism in seeing gradual improvements which started during the last quarter of 2009 continuing in 2010 as reported in the Bahamas Hotel Association's Annual Industry Performance and Outlook survey.
 
"The industry is stabilizing and we are beginning to see increasing levels of confidence by hoteliers and a belief that things are getting better" states BHA President Robert Sands who indicates that "this is most evident in projections for improvements in sales, occupancy, room rates and capital spending as well as a stabilization of employment levels.  When benchmarked against our performance reports of 2008, projections for 2010 show that we are moving in the right direction following a most difficult 2009" adds Sands.
 

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Bahamas Tourism Targets African American Market

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Hundreds of African American travel industry insiders swarming to The Bahamas for an April conference may be the first glimpse of a Tourism strategy targeting billions of dollars coming from that travel market.
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Concern Over South Ocean Resort

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A government minister yesterday told Tribune Business he was "extremely" concerned about the protracted legal battle that has enveloped the South Ocean resort and inhibited its potential $867 million redevelopment, telling Tribune Business yesterday that it further exacerbated the Bahamas' "asset utilisation problem".
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Kickstart May Come For Halted Tourism Projects

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SOME tourism developments that ground to a halt in the wake of the global financial crisis may get a kick-start this year, Prime Minister Hubert Ingraham suggested.

"While foreign direct investment flows into our country have declined, there are new signs that several of the tourism related developments which stalled because of the global recession and international financial crisis are preparing to move forward this year," said the prime minister last night.
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Ginn Labeled 'Puppet' By Investors

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Investors in a $4.9 billion Bahamas-based mixed-use resort development have accused the developer of becoming "a puppet to give cover" to the refusal of the project's financial backer to further develop the site, into which real estate investors had pumped $160 million to acquire some 195 lots.
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