Hotel News

Central Bank Notes Decline In Hotels Bottom Line

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The Central Bank is confirming that hotels in The Bahamas sustained whopping blows to their bottom line in the last quarter — following an earlier Guardian report pinning that decline at 21 percent.

"Preliminary indicators of tourism sector revenues suggest that hotel receipts, across all major markets, declined significantly during the review quarter," said the bank's latest quarterly report ending June 2009. "This reflected the combined adverse effects on average earnings of lower occupancy levels, various discounts and other incentive programs."

The news comes as hotels and resorts throughout the region register record declines, even in the normally active travel season start. They are declines connected in every way to the global recession now clamping down on consumer spending, even on the most basic necessity items.
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Langham Place Signs Exuma Resort Deal

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Langham Hotels International is set to plant its first flag in the Caribbean and launch the first Langham Place in North America following the signing of a management agreement with P.S.G. Hotel Ltd.
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Police Escort Former Hotel Union Executives Off Premises

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Former executives of the Bahamas Hotel Catering and Allied Workers Union (BHCAWU) who reportedly hired a locksmith to change the locks at the headquarters Wednesday were escorted off the property by police, according to the union's recently ousted president.
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Former BHCAWU President Talks About Court Ruling

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The former president of the Bahamas Hotel Catering and Allied Workers Union (BHCAWU) is breaking his silence on the recent court ruling that nullified the union's recent elections and ousted Nicole Martin from its top post.
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Bahamas Chamber of Commerce Hosts EPA Seminar

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The SMESU Trade Unit of The Bahamas Chamber of Commerce in partnership with the Caribbean Regional Negotiation Machinery (CRNM), and the Grand Bahama Chamber of Commerce recently hosted a two-day seminar to highlight the benefits and opportunities that are available to professional service providers through the European Partnership Agreement (E.P.A.). Seminars were held both in New Providence and Grand Bahama.
Last Updated on Friday, 07 August 2009 06:28 Read more...
 


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