It is incomprehensible that the BHTA in 2013 is supporting the Government’s announced acquisition of Almond Beach Village!
Of course we need airlift and beds and visitors but not at a price that is damaging to the overall industry and economy and which gets Government back in to business when the Private Sector has constantly taken a position that Government should facilitate not operate business.
What have we learnt from the ABV strategy failure and prior Government forays into hotel investment?
Where is the long term strategy here? How does it align with the structural adjustments we must make NOW to create a sustainable economy?
How does this make tourism more competitive?
Let the market determine the right price for Almond and other assets (including CLICO et al) and the plentiful capital that is available will soon appear and invest.
We will have to get poorer before we recover.
Competitiveness should be at the heart of our actions nationally. This announced move is anti-competitive and lacks strategic relevance that will transform our economy to one that is sustainable and growing.
Government does not have the capital, the knowledge nor the skills to run an hotel (especially now) and will only distort the market further and damage our brand reputation and hurt other hotel operations.
Without cost structures that make investment attractive asset values must fall.
— Peter Boos