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Hotel News

BHA President Urges Hotels To Stay Close To Banks and Utilities

Over the next several months, hotels and tourism-dependent businesses in The Bahamas will continue to feel the brunt of the impact of the global recession, high US unemployment, and a lack of consumer confidence in the United States, our major source of visitors, according to the Bahamas Hotel Association.  While industry competitive data reveals that The Bahamas is holding up well compared to many areas around the world, hotels and tourism-related business are in a vulnerable state and the next several months are crucial to the operations of a number of businesses.

BHA President Robert Sands advises businesses which are experiencing cash flow difficulties to stay in close contact with banks, utility companies, and vendors to work out payment arrangements if necessary during this difficult period.
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Hotel News

Register Today For The BHA Golf Tournament

Thanks to your generous support, over the past five years the Bahamas Hotel Association has been able to award 31 tourism-related scholarships valued at over $100,000 to Bahamian students.   The Bahamas Hotel Association will be hosting its 11th Annual Golf Tournament on Sunday, October 4th at the Cable Beach Golf Course  We hope that once again you will be able to support this worthwhile activity.
 
BHA has significantly stepped up its program of activities and effectiveness in recent years.  Our ability to positively impact a range of issues and activities important to our industry’s future has been tied directly to the level of support from the business community.

Read more for Registration and Sponsorship information. Also, view the Bahamas Calendar video featuring Frank Comito talking about this year’s tournament.

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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.
Continue readingCentral Bank Notes Decline In Hotels Bottom Line