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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.
…Continue readingCentral Bank Notes Decline In Hotels Bottom Line

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.
…Continue readingLangham Place Signs Exuma Resort Deal

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.
…Continue readingBahamas Chamber of Commerce Hosts EPA Seminar

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.
…Continue readingFormer BHCAWU President Talks About Court Ruling

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.
…Continue readingPolice Escort Former Hotel Union Executives Off Premises

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.

…Continue readingNational Trust Proposes Marine Park

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.
…Continue readingAtlantis Will Retain Work Permit Policy

The most serious impact of the global financial and economic crisis on the smallest Caribbean economies, including The Bahamas, has been the downturn in the tourism industry, The Bahamas’ Prime Minister Hubert Ingraham has said.
…Continue readingIngraham Admits Global Crisis Hurting Caribbean

Old Bahama Bay hotel in West End, Grand Bahama, will lay off 85 staff members tomorrow, The Nassau Guardian can confirm.
…Continue readingOld Bahama Bay Resort To Lay Off More Staff