April 25, 2012
In Case You Missed It: NP Hotels Top 84% Occupancy Tourism On the Rise
Hotel occupancy is likely to exceed April 2008 levels for the first time since the Great Recession. The FNM government has worked tirelessly to safeguard the economy and promote tourism. The investments made in people, infrastructure, tourism and education are paying off as tourists come back in droves to The Bahamas
From the Nassau Guardian April 23, 2012: The fourteen major hotels in New Providence are seeing an increase in occupancy, room revenue and room nights sold in comparison to last year… Room revenue increased by eight percent along with a 4.8 percent increase in room nights sold. Last month’s average daily room rate (ADR) of $283.35 represented an increase of $8.44 compared to March 2011…
“We are encouraged by the year over year results, however, are still constrained by international competitive pressures on room rates and hope to see revenues return to pre-recession levels soon.” according to Stuart Bowe, BHA President... Bowe told Guardian Business that nine of the 14 hotels experienced revenue increases last month, with four of them showing double digit increases in comparison to last year… “The first quarter performance finished with all but two properties registering increased revenues. Of the twelve properties with increased revenues, seven saw these revenue surpluses generated primarily through double digit increases in room nights sold.”…
Bowe believes these numbers show that March has seen an overall improvement, which is translating into increased revenue for most of the major hotels on New Providence….
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