Hotel operators who are earmarked to spend an estimated $40 million in renovating properties have been given the green
light to proceed, utilizing an interim arrangement put in place by Minister of Finance Chris Sinckler.
The go-ahead from the Barbados Hotel and Tourism Association (BHTA) follows notice from the minister of a delay in accessing promised concessions.
Pointing to the decision to have renovations proceed at this time, BHTA president Sunil Chatrani explained that this would allow the application process for concessions, described as lengthy and time-consuming, to move along at a much faster pace.
He noted that properties seeking to renovate represent a small fraction of its membership.
“The process would possibly take longer than the wait for the TDA (Tourism Development Act) changes in October. So, with this in mind, we have advised our members to hold on a few more weeks as it relates to accessing the promised concessions for consumables and food and beverage,” Chatrani said in a statement issued today.
According to the BHTA president, there has been a high volume of applications for concessions, particularly as it relates to food and beverages.
Meantime, executive vice president of the association Sue Springer explained: “In order to ensure a seamless process when the changes to the TDA are made, the association is presently setting up a series of meetings with the relevant authorities to obtain clear direction for the regulations and modalities for duty free claims on food and beverage and consumables. This will assist in speeding up the process and reducing any delays as a result of lack of information or clear requirements.“