Challenges ahead for the Caribbean hotel industry

PKF Hospitality Research, an affiliate of PKF Consulting has revealed in its new edition of Caribbean Trends in the Hotel Industry that 2008 will be a challenging time for the Caribbean hotel industry. The number of visitors in the Caribbean grew in 2007 due to the reasonable price of flights and accommodation. However, due to a slow U.S. economy, increased competition, cuts in the number of Caribbean flights and cruises hotel profits and occupancy levels are predicted to drop.

The high cost of energy utilities in the Caribbean has encouraged a number of hotels to become more environmentally friendly to cut their costs, a number of hotel have spent time looking at more sustainable means of using the energy that they need. Many International hotel companies have targeted the Caribbean as a future place to expand their presence, which again will put additional pressure on local hotels and resorts.

A copy of the 2008 edition of Caribbean Trends in the Hotel Industry is available from: http://www.pkfc.com/store.