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Hotel News

Optimism At Caribbean Small Hotels Retreat

The highly anticipated 2009 Caribbean Hotel and Tourism Association (CHTA) Small Hotels Retreat kicked off in the U.S. Virgin Islands last night with a larger than expected delegation of small hoteliers, optimistic about their prospects in an improved 2010 economy.

“The small hotels of the Caribbean are the salt and spice, and yes – the heart and soul of our region. They are as diversified as our people and we truly believe this is where we stand out,” said Beverly Nicholson-Doty, Commissioner of Tourism for the U.S.V.I. in her keynote address at the retreat’s opening ceremony. “At the end of the day, this is the group that is vested in our community.”
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Hotel News

New Resort To Have Major Economic Impact On The Bahamas

A major mixed-use resort project is projected to generate an annual economic impact ranging from $54 million to $90 million for the Bahamian economy, its principals told Tribune Business yesterday, adding that the 291 lot sales they have closed have brought “hundreds of visitors to Long Island”.

In a series of e-mailed answers to Tribune Business’s questions, Ian Moorcroft, one of the principals behind the Port St George project, earmarked for a site next to Long Island’s existing Stella Maris subdivision, said being debt free had been “critical” to its ability to weather the global recession and credit crunch.
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Hotel News

Hotels Struggle With Slower Than Expected September

There “is no question” that September, traditionally the softest month of the tourism season, was “weaker than expected” for the resort industry, the Bahamas Hotel Association’s president said yesterday, who has written to banks and utility companies urging them to work with resort properties experiencing increasing cash flow difficulties.
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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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