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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