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Hoteliers to Get Insight into Competitive Financial Comparisons
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THE CARIBBEAN (July 12, 2016) — Hoteliers participating in KPMG’s 2016 Caribbean Resort Benchmarking Survey will gain valuable insight by comparing their own financial performance against the industry’s norm in the region. KPMG, in collaboration with the Caribbean Hotel and Tourism Association (CHTA), has launched the 2016 survey, designed to help owners, operators, lenders and investors better understand the profile and performance of their Caribbean resorts.
The 2016 survey looks to build on the success of past surveys and provide additional insight into the impact of the economic environment on the recent and forecasted future financial performance of Caribbean resorts.
“We believe that individual resorts can benefit from regional benchmarks that allow them to compare their own financial performance to industry performance regionally. Participants will receive more detailed results than will be available in the publically available report,” according to Gary Brough, Managing Director for KPMG, Turks and Caicos Islands, who heads KPMG’s tourism group in the region.
CHTA’s CEO Frank Comito emphasized the importance of hotel participation in the research. “Through the Benchmarking Study, resort owners and operators will be able to see where they stand compared to their peers in the industry in key operational areas, with source marketing strategies and in the utilization of various distribution channels,” states Comito. CHTA will post the general findings from the study on the Tourism Data Resource Center section of its website.
KPMG and CHTA emphasized that they will maintain strict confidentiality over reported data, indicating that all information will be presented on a consolidated basis only so that no property’s individual results will be identifiable.
The survey is being launched this week to all CHTA hotel members. Details about how hotels can participate and benefit from the findings can be provided by contacting Gary Brough at gbrough@kpmg.tc or James Savory at jamespeter@kpmg.tc.
The full consolidated findings of the study will be shared at CHTA’s Caribbean Hospitality Industry Exchange Forum (CHIEF), which will be held Sept. 30 – Oct. 2, 2016 at El Conquistador Resort, A Waldorf Astoria Resort in Puerto Rico.
Caribbean Hotel & Tourism Association
The Caribbean Hotel & Tourism Association (CHTA) is a federation of 32 National Hotel Associations, with more than 600 member hotels and over 300 allied members. CHTA is the largest representative of the private sector in the Caribbean hotel and tourism industry. We are the voice of the Caribbean hospitality industry for the development of the region in the highly competitive and sophisticated environment of international tourism. Today, tourism is widely recognized as a pivotal industry in the economy of the region – and CHTA functions as the common denominator for this industry in a region of diverse nationalities, languages and styles, identifying mutual problems and marshaling the resources of the active and allied members to devise solutions. CHTA represents all facets of the hospitality industry with more than 600 member hotels and over 300 allied members.
CHTA, including the events staged by the association, is supported by Strategic Partners AskMe Inc., Clear Channel Airport Division, Interval International, JetBlue Getaways, MasterCard, OBM International, SiteMinder, Tambourine and TravelZoo.
