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Atlantis eyes 100k extra room nights in Marriott tie-up
Atlantis is hoping its 10-year franchise deal with Marriott International will generate an extra 50,000-100,000 room nights per year, its top executive describing the agreement as “the most significant tourism stimulus for the Bahamas this decade”.
Baha Mar avoids damages on $10m 'credit letter'
Baha Mar has reached a legal settlement that prevents a former hotel partner seeking specific damages against it for trying to draw down a $10 million Letter of Credit, although arbitration proceedings remain alive.
Gov't 'good faith' key to Brewery's 100-job growth
Sands Beer’s manufacturer yesterday said its planned $15 million growth strategy, which could more than double its workforce via the creation of “over 100” jobs in the next five-10 years, depends on the Government maintaining the ‘tax advantage’ it holds over its BISX-listed rival.
Pension providers enjoy ‘significant’ 100% inquiry rise
Pension plan administrators yesterday said they had seen a 100 per cent increase in employer inquiries over the past 12 months, describing the surge as “significant” given existing low participation levels.
'Almost $900m' raised on LPIA redevelopment
THE Nassau Airport Development Company (NAD) yesterday told Tribune Business it had now raised "almost $900 million" via six separate financial transactions, having just closed the final $225 million round to fund Lynden Pindling International Airport's (LPIA) $409.5 million redevelopment.
BTC to complete Abaco cell overhaul in mid-May
THE Bahamas Telecommunications Company (BTC) is set to complete its wireless system overhaul on Abaco and the northern Bahamas by mid-May, giving customers improved cellular service, including faster speeds for downloads and browsing on smart phones.
FINCO in profit boost as bad loans hit $100m
FINCO in profit boost as bad loans hit $100m By NEIL HARTNELL Tribune Business Editor The $5.4 million boost from changes to its loan loss provisioning calculation enabled Finance Corporation of the Bahamas (FINCO) to enjoy a 3.18 per cent net income in
$112m spent with 'no due process'
$112m spent with 'no due process' By NEIL HARTNELL Tribune Business Editor With more than $112 million in public monies spent "without any evidence of due process", the Bahamian Contractors Association's (BCA) president has urged the Government to use t
'Mixed bag': Auto sales 50% off peak
By NEIL HARTNELL Tribune Business Editor A leading auto dealer believes the industry will "eventually" recover to levels comparable to its 2007 peak, despite 2011's new car sales being almost 50 per cent down on that banner period in what was described a
COMMUNICATIONS REVENUES FALL 7%
By NEIL HARTNELL Tribune Business Editor The Bahamian communications industry's total revenues decreased by 7 per cent year-over-year in 2010, falling from $460 million to $428 million, as the sector's regulator pledged to introduce "universal service ob
Credit union member growth expands 29%
By NEIL HARTNELL Tribune Business Editor Bahamian credit unions have outpaced commercial banks through an average total asset growth rate of 9.25 per cent over the past five years, the Central Bank's governor said yesterday, their collective membership h
Competition fears on Super Value's City Markets 'deal'
By NEIL HARTNELL Tribune Business Editor Rival food retailers have voiced fears that allowing Super Value to acquire City Markets' remaining stores would create a "virtual monopoly" in the New Providence supermarket business, with an estimated 60-80 per
Competition fears on Super Value's City Markets 'deal'
By NEIL HARTNELL Tribune Business Editor Rival food retailers have voiced fears that allowing Super Value to acquire City Markets' remaining stores would create a "virtual monopoly" in the New Providence supermarket business, with an estimated 60-80 per
74% 'PERSONAL' CREDIT IMPEDES DEVELOPMENT
By NEIL HARTNELL Tribune Business Editor The Bahamas' development is being "seriously impacted" because its citizens are unable to invest in key productive areas, such as energy and transportation, due to almost 74 per cent of credit going on 'personal'
BRISTOL PREMIER'S 'BEST OF THE BEST'
By NEIL HARTNELL Tribune Business Editor Bristol Wine and Spirits is aiming to showcase "the best of the best" in its wine and spirits portfolio through next week's 'soft opening' of its one-acre Premier Cru venue on Gladstone Road, its president yesterd
BAHA MAR'S OCCUPANCIES 3-4% ABOVE FORECAST LEVEL
By NEIL HARTNELL Tribune Business Editor While occupancies at Baha Mar's two existing Cable Beach resorts are trending 3-4 per cent ahead of 2012 forecasts, the resort developer yesterday said they had yet to reach "levels considered acceptable", followi
FEEDBACK FROM THE FIRM'S KING
By Ian Ferguson We agree that a stronger focus on our customers enhances our ability to grow and expand our businesses, and to deepen our ability to maximise customer satisfaction. We say often that the customer is 'KING', and that they are the driving f
$20-$30M INVESTMENT AT LAST HOTEL CORP HOTEL
By NEIL HARTNELL Tribune Business Editor An Illinois-based investor is eyeing a $20-$30 million investment during the first two phases of its plans to transform the last Hotel Corporation-owned property into an upscale boutique resort, with talks aiming
Bahamasair reduces staff 12% in 5 years
Bahamasair reduces staff 12% in 5 years By NEIL HARTNELL Tribune Business Editor Bahamasair has reduced staff levels through "natural attrition" by more than 12 per cent over the past five years, Tribune Business was told yesterday, while improving its
$150M TRUST URGED TO RESCUE HOUSING MARKET
By NEIL HARTNELL Tribune Business Editor The Government was yesterday urged to invest $100-$150 million into a Foreclosure Trust as a way to solve this nation's mortgage/housing crisis, a well-known businessman telling Tribune Business that the returns g
