Tourism players will be looking to Government and commercial banks for support as a result of the losses from the coronavirus (COVID-19) pandemic.
Chairman of the Barbados Hotel and Tourism Association (BHTA), Stephen Austin, yesterday revealed more than US$1.8 million (BDS$3.6 million) in hotel cancellations last week, and projected losses in revenue and declining bookings, amounting to millions, in the next three to six months.
Addressing the BHTA’s first quarterly meeting at Hilton Barbados, he also said that over the last week, the Intimate Hotels of Barbados would have lost over US$300 000 in cancellations, while vacation rental properties were 80 per cent down in revenue on the same period last year.
Bookings were “pretty much zero” for the next six months, with cancellations “accelerating daily”. (GC)
Subscribe now to our eNATION edition for the full story.
For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.