Category: BHA News

A FORMER Chamber president yesterday questioned whether the Government could “make the hard decisions” necessary to achieve its key objective of bringing the debt-to-GDP ratio down to 40 per cent in the medium term, and warned it was “in danger of killing the goose that laid the golden egg” through the sharp tax increases on the hotel and auto industry.
…Continue readingNew Tax Increases Could Impact Tourism

THE BAHAMIAN hotel industry is facing a potential five-fold whammy, with the Government adding to increases in National Insurance Board (NIB) contribution rates, electricity costs and Out Island Promotion Board fees by increasing hotel room/guest taxes from 6 per cent to 10 per cent, along with an $5 increase in departure taxes.
…Continue readingBahamas Hotels Face Five-Fold Budget Hit

* Essential to Move Debt to GDP Out of Danger Zone

* Room Tax and Departure Tax to Increase

* Duty Reduced on Several Energy-Efficient Items

* Ministry of Tourism & Aviation Budget Down Over $2 Million

Delivering a somber message of fiscal constraint, reduced Government expenditures and increases in taxes, Prime Minister The Right Honourable Hubert Ingraham described a series of cost reduction and revenue raising measures today, most which are planned to begin to take effect in July once the new budget is in place.
…Continue readingPrime Minister Unveils New Budget Priorities

THE Bahamian hotel industry maintained its “stabilisation” trend during April, Tribune Business has been told, with average occupancies for Nassau/New Providence hotels up by 2.6 percentage points and average daily room rates (ADRs) some 1.1 per cent ahead of 2009 comparatives.
…Continue readingBahamas Hotels Industry Stabilising

Baha Mar has 49 “conditions precedent” that it must fulfill to consummate its $2.6 billion Cable Beach redevelopment, the Prime Minister confirmed to Tribune Business, the most important being to resolve negotiations with Scotiabank over its outstanding $170-$180 million loan.
…Continue readingBaha Mar Gets Loan On 49 Conditions

Despite recent news of U.S. airlines announcing surcharges for peak travel summer days, two Bahamian airlines will not follow suit and force passengers to dig deeper in their wallets.
…Continue readingNo Surcharge For Bahamian Airlines

A US court has thrown out a lawsuit filed against the developers of the $4.9 billion Ginn sur mer project, in which purchasers who spent between $525,900 and $1.37 million on acquiring real estate parcels had alleged fraudulent conspiracy, on the grounds that the Bahamas was the correct jurisdiction in which a court should hear their complaints.
…Continue readingUS Court Throws Out Lawsuit Against Ginn Developers

Please be advised that the National Insurance Board’s Meeting with industry planned for Thursday, May 20th, 2010 at 10am at the British Colonial Hilton has been rescheduled for June 3rd,…Continue readingNIB Briefing Rescheduled For June 3rd

British Airways has posted information and guidelines regarding flight arrangements in anticipation of the potential strike.

SAN JUAN, PUERTO RICO – The challenges facing the Caribbean tourism industry as a result of the global economic crisis along with the subsequent decrease in marketing budgets from many of the region’s tourism departments has spurred the Caribbean Society of Hotel Association Executives (CSHAE) to ban together to try and affect a positive impact on their own.
…Continue readingCaribbean Hotel Executives Work Together To Affect Positive Industry Changes