Caribbean Hotels Suffering After Drop in Tourism Numbers
The recession is hitting the Caribbean especially hard with a major drop in tourism and hotel occupancy. Despite incentives to promote Caribbean holidays and the offering of many special deals, the efforts have not been enough to pick up the decline
Caribbean hotels have been some of the worst affected in the recent global economic crisis and the situation looks like it might get worse before it can get better.
A new report has stated that there is a 4% decline in travellers taking Caribbean holidays and Caribbean hotels have found a significant drop in profits during 2008, which were down 16%.
It seems that rather than taking family holidays to the Bahamas or luxury holidays to other Caribbean resorts, people are staying closer to home, or not going away at all until the economy has picked up.
The lack of visitors to Caribbean hotels has meant that many have been forced to close down and this has happened to one large hotel in Bahamas, the Four Seasons on Great Exuma.
Despite special offers and generous discounts put in place to attract more tourists to Caribbean hotels, the efforts have not been enough and PKF Hospitality Research report predicts that the decline in visitor numbers will continue to decrease throughout 2009.
The recent report also states that the future intended projects of 50 hotels are likely be delayed due to hotel developers struggling to get the financing desperately needed.
The Caribbean has always been a popular destination for tourists from all over the world with its stunning scenery, luxury accommodation, and hot and sunny weather. The downturn in tourism is expected to have a significant affect on resorts and business across the Caribbean region from the Bahamas, and Barbados, to the Dominican Republic and Jamaica.
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