New evidence suggests the structure of Caves of Barbados Limited (CBL), which manages Harrison’s Cave, would have made it difficult to realise a profit.
According to documents seen by the SUNDAY SUN, CBL is burdened by an inefficient corporate structure, prohibitive labour costs, increased maintenance charges, and high debt servicing payments. Each of these factors, together with the power of the tour companies who generate nearly 45 per cent of the business to the Cave, impacted its ability to make money.
A specially commissioned study, A Strategic Review of Caves of Barbados Limited, done by Dr Justin Robinson and Dr Akhentoolove Corbin of the University of the West Indies Cave Hill campus in 2010, forecast that CBL could, with implementation of key recommendations particularly on marketing, start being profitable from 2016.
This is the latest development since parliamentary secretary in the Ministry of Tourism Irene Sandiford-Garner reported to the Senate recently that there had been a decline in visitors to Harrison’s Cave over the past 14 years and the attraction was not making money.
Please read the full story in today’s Sunday Sun, or in the eNATION edition.