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Hotel News

Central Bank Notes Decline In Hotels Bottom Line

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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Hotel News

Bahamas Chamber of Commerce Hosts EPA Seminar

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.
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Hotel News

National Trust Proposes Marine Park

The Bahamas National Trust (BNT) is looking to add to its 25 national parks, but this time around they are proposing that a marine park be established in southwest New Providence.

If approved, the park will be the first to be located in waters off New Providence.

Organizers behind the initiative, which has been dubbed the Southwest Marine Park Project, are looking to turn waters and marine life, stretching from east of Old Fort Point to south of Adelaide, into protected park land.

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Hotel News

Atlantis Will Retain Work Permit Policy

A top Kerzner executive is confirming that the Atlantis Resort will retain its work permit policy, despite the tight economy — a move coming as Bahamian calls intensify for a crackdown on permit issuance.

“In every instance where a work permit is held it is because of the value that the permit holder brings to the organization,” Atlantis spokesman Ed Fields told Guardian Business. “Whether in good times or bad times, work permits are based on that philosophy [and] quite naturally it follows that in difficult economic times all positions are analyzed based on the value to the organization.
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