Category: BHA News

Developers of the $100 million Balmoral community are gearing up to launch its $15 million phase two component, with 100 percent of units already sold in the first stage — bucking trends currently being registered in the real estate market.

The project is now readying to welcome its first residents into their home, following the near two-year construction period that saw around 150 workers working on site daily.

“We’re moving full steam ahead [and] right now we’re just getting ready to close on the first phase of the town homes and condominiums,” Jason Kinsale, one of the primary developers, told Guardian Business.

…Continue readingBalmoral Development Moves Forward

The immediate growth of the Bahamian economy rests with the Ministry of Tourism’s ability to fill airplane seats and bring stopover visitors back to these shores en masse, the minister of state for finance said yesterday, meaning group business will have to be revived as soon as possible.
…Continue readingTourism Holds Hope For Bahamas Economic Recovery

Tourism arrival numbers will be up in March and April 2010 due to the country’s free companion airfare promotion, the director-general of tourism told Tribune Business yesterday, while the Bahamas Celebration’s inaugural cruise voyage to Grand Bahama will sail at capacity next month.
…Continue readingArrivals Expected To Rise During Peak Season

New Providence-based resorts are forecasting that average occupancies for the peak March-April period will be 4-5 per cent higher than last year, the Bahamas Hotel Association’s (BHA) president said yesterday, with hotels expecting their profits to improve before witnessing any top line growth.
…Continue readingOccupancy Rise For Hotels During Peak Time

BAHA Mar is appealing a US ruling that completely dismissed its breach of contract and other claims against Harrah’s Entertainment on the grounds that the court “acted contrary to law, the facts and the terms of the parties’ agreements”.
…Continue readingBaha Mar Apealing In Harrah’s Case

THE Bahamas Hotel Association (BHA) is projecting a “slight increase” in room rates and occupancies during February and March during the build-up to the peak Easter season, Tribune Business was told yesterday, with advance bookings “looking better than last year”.
…Continue readingSlight Occupancy Increase For Hotels

Trendline Shows Hotels Moving Towards 2008 Performance Levels

Most of the nation’s hoteliers reported significant declines in key performance indicators in 2009 but expressed considerable optimism in seeing gradual improvements which started during the last quarter of 2009 continuing in 2010 as reported in the Bahamas Hotel Association’s Annual Industry Performance and Outlook survey.
 
“The industry is stabilizing and we are beginning to see increasing levels of confidence by hoteliers and a belief that things are getting better” states BHA President Robert Sands who indicates that “this is most evident in projections for improvements in sales, occupancy, room rates and capital spending as well as a stabilization of employment levels.  When benchmarked against our performance reports of 2008, projections for 2010 show that we are moving in the right direction following a most difficult 2009” adds Sands.
 

…Continue readingTrends Are Looking Up For Hotels

Hundreds of African American travel industry insiders swarming to The Bahamas for an April conference may be the first glimpse of a Tourism strategy targeting billions of dollars coming from that travel market.
…Continue readingBahamas Tourism Targets African American Market

A government minister yesterday told Tribune Business he was “extremely” concerned about the protracted legal battle that has enveloped the South Ocean resort and inhibited its potential $867 million redevelopment, telling Tribune Business yesterday that it further exacerbated the Bahamas’ “asset utilisation problem”.
…Continue readingConcern Over South Ocean Resort

SOME tourism developments that ground to a halt in the wake of the global financial crisis may get a kick-start this year, Prime Minister Hubert Ingraham suggested.

“While foreign direct investment flows into our country have declined, there are new signs that several of the tourism related developments which stalled because of the global recession and international financial crisis are preparing to move forward this year,” said the prime minister last night.
…Continue readingKickstart May Come For Halted Tourism Projects