The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Baha Mar yesterday said it was targeting “maximum New Year’s capacity” for its three new resort properties after they enjoyed “a much better Christmas” this year following their completion.

Robert Sands, pictured, Baha Mar’s senior vice-president of governmental and external affairs, told Tribune Business that the developer’s 2019 bookings were “very robust”.

Confirming that the Grand Hyatt, SLS and Rosewood were all eyeing strong New Year’s occupancies, he added: “Christmas was much better for us this year, and all of our properties are looking to be at maximum capacity for New Year’s.

“We had an excellent festive season. Bookings for next year are very robust, and we are very encouraged by the level of bookings that we have to-date for next year.

Ed Fields, Atlantis’ vice-president of public affairs, in an e-mailed response to Tribune Business simply described the resort’s Christmas and New Year’s business as “extremely strong”.

As recently reported by Tribune Business, Nassau/Paradise Island hotels have seemingly shrugged off the arrival of Baha Mar’s extra 2,000 rooms as average daily rates (ADRs) rose by 35 percent for the year to October 2018.

Data in the Central Bank of The Bahamas’ monthly report for November suggested that the sector has retained its pricing power despite the Cable Beach mega resort’s completion, although average occupancy rates were down slightly.

Drawing on Ministry of Tourism and Bahamas Hotel and Tourism Association (BHTA) data, the Central Bank said: “A survey of large hotels showed a 34 percent gain in room revenue during October. This outturn reflected a $5.43 (3.1 percent) advance in the average daily room (ADR) rate to $179.48, and a 30 percent increase in the number of room nights sold, while the average occupancy rate steadied at 45.1 percent.

“Similarly, on a year-to-date basis, total room revenue expanded by 31 percent, underpinned by a 27 percent uptick in room nights sold combined with a $60.36 (34.7 percent) increase in the ADR to $234.41, which overshadowed a slight 40 basis point fall in the average occupancy rate to 61.5 percent.”