HVS Lodge Marketplace File – The Rebound of Barbados Following COVID-19

Following the interruption of Barbados’s tourism trade all through the COVID-19 pandemic, Barbados is on tempo to surpass the height completed in 2019 all through 2024. The hot and deliberate opening of plenty of the world over branded inns in Barbados will make the vacation spot much more sexy.

Barbados Tourism and Visitation

Barbados is an impartial English-speaking Commonwealth nation and the easternmost island of the Caribbean. It is likely one of the maximum mature vacationer locations within the Caribbean. The island is understood for providing probably the most maximum serene seashores on the earth, in addition to an abundance of eating choices, native buying groceries studies, remarkable golfing lessons, and a lot of different sights. In step with Barbados Tourism Advertising and marketing Inc. (BTMI), roughly 80% of tourists to the island come for holiday or tourism functions. The next graph displays the ancient stopover visitation knowledge for Barbados.

Selection of Stopover Guests to Barbados

Supply: Barbados Statistical Provider

Following declines in 2020 and 2021 because of the have an effect on of COVID-19, stopover visitation for calendar-year 2023 reached 90.0% of the height visitation in 2019. 12 months-to-date efficiency knowledge thru March 2024 illustrate additional strengthening, attaining roughly 9.6% upper than the similar duration in 2019.

Barbados seasonality follows the everyday Caribbean trend, with maximum stopover guests coming between November and April. The USA and United Kingdom make up nearly all of those guests in Barbados. The next graph displays the breakdown of 2023 stopover guests to Barbados by way of key markets.

Guests by way of Supply Marketplace

Supply: Barbados Statistical Provider

Except for stopover visitation, the Port of Bridgetown is in a position to dealing with probably the most global’s biggest passenger cruise and load ships. Cruise-ship passenger ranges for the rustic ended 2023 at 95% of the 2019 height stage and are anticipated to exceed 2019 ranges in 2024. Historic cruise-ship passenger ranges are illustrated under.

Cruise-Send Passengers in Barbados

Supply: Barbados Statistical Provider

Lodge Call for and New Trends

The island of Barbados provides roughly 6,000 lodge rooms, with a mixture of each conventional Ecu-plan accommodations and all-inclusive inns. The bulk perform with out a global logo association and are located within the luxurious tier. The next graph displays the ancient occupancy ranges for Barbados as in comparison to the Caribbean as a complete.

Historic Occupancy Ranges—Barbados vs. Caribbean

Supply: STR

Whilst occupancy has now not absolutely recovered to pre-pandemic ranges, Barbados occupancy ended 2023 at 93% of height occupancy. This metric remains to be trending upward and is anticipated to achieve the prior height stage by way of year-end 2024.

Whilst nearly all of present stock is impartial and unbranded, a shift has befell in contemporary months that may proceed during the following few years. The 422-room Wyndham Grand Barbados Sam Lord’s Citadel All Inclusive Lodge opened in overdue 2023 as Wyndham’s first lodge in Barbados. The 132-room Lodge Indigo Barbados is recently underneath building and is anticipated to open in overdue 2024. As well as, a lot of different branded lodge initiatives are within the pipeline, such because the 120-room Pendry Barbados and Pendry Apartments, in addition to the 380-room all-inclusive Hyatt Ziva Barbados.

Conclusion

In spite of the gradual rebound after the COVID-19 pandemic, Barbados is on tempo to surpass the prior tourism height of 2019 all through 2024. With the hole of the Wyndham Grand Barbados Sam Lord’s Citadel All Inclusive Lodge and the rise of the world over branded lodge stock over the following few years, the Barbados lodge marketplace is easily located to resonate with American customers, leading to extra U.S. tourism to the island.

To be told extra in regards to the Caribbean lodge trade, in addition to funding and building in Barbados and during the Caribbean area, sign up for us November 13–15, 2024, for the thirteenth version of CHICOS: The Caribbean Lodge Funding Convention & Operations Summit. The development can be held on the Wyndham Grand Barbados Sam Lord’s Citadel All Inclusive Lodge in Barbados.

The CEO of BTMI, Andrea Franklin, is positive in regards to the marketplace and CHICOS, as she finds in her commentary under.

“I’m happy to substantiate the powerful enlargement inside of our tourism sector, indicative of a strategic and concerted effort to reestablish Barbados as a premier vacation spot publish COVID-19. Thru steadfast advertising and marketing tasks, we’ve effectively navigated against pre-pandemic arrival ranges, reaffirming our aggressive edge and reclaiming considerable marketplace percentage. Our endeavors are reinforced by way of unwavering call for for Barbados, underscored by way of contemporary will increase in airlift from key supply markets, along notable expansions in cruise operations. Those traits sign a vote of self belief from our companions within the immense possible that lies forward for Barbados tourism.
 
On this opportune local weather, Barbados stands as a ravishing funding prospect, poised to deal with the burgeoning inflow of air and cruise passengers. Key spaces of hobby surround the advance of lodging choices to attraction to the present traveler; the growth of sights and products and services, particularly family-oriented choices; and the enhancement of infrastructure to align with the evolving wishes of our guests, together with our ports of access.
 
We’re certainly extremely joyful to host the impending CHICOS convention right here in Barbados and look ahead to welcoming all attendees to our shores. We eagerly look forward to the alternatives for info sharing, networking, and collaboration among all stakeholders. Get in a position to discover unending funding alternatives amidst our colourful tradition and shocking landscapes. Let’s forge partnerships that propel the way forward for tourism in combination!” – Andrea Franklin, Barbados Tourism Advertising and marketing Inc. CEO

CHICOS 2024 The Caribbean Lodge Funding Convention & Operations Summit (CHICOS) is the premier hospitality convention within the area. Having finished its twelfth version in St. Thomas, U.S. Virgin Islands in 2023, CHICOS brings in combination over 350 regional and world buyers and operators, in addition to the area’s main decision-makers. Additionally collaborating as attendees or audio system are executive representatives, opinion leaders, builders, bankers and different lenders, tourism officers, funding fund representatives, lodge logo executives, tourism builders in the hunt for buyers, franchise and operations corporate delegates, private and non-private establishment individuals, specialists, advisors, architects, and architects. Convention attendees community and speak about the area’s markets and chances, whilst examining crucial traits that may impact their funding selections. The 2024 match will happen November 13–15 on the Wyndham Grand Barbados Sam Lord’s Citadel All Inclusive Lodge in Barbados. Additional main points, together with registration, can also be discovered at the convention web page. Please direct all questions to Nicole Roantree.

About Kristina M. D’Amico

Kristina is Managing Director and Chief of the company’s Caribbean Area consulting and valuation apply. Kristina’s vital world consulting, advisory, and appraisal enjoy contains belongings within the Caribbean Basin throughout 23 Caribbean islands, in addition to the Riviera Maya area of Mexico and plenty of nations in Latin The usa. Given her analytical talents, her creative-thinking talent, and her flair for fixing issues that stand up in complicated initiatives, shoppers in particular worth Kristina’s insights and suggestions relating to lodge room counts, product positioning, facilities, and branding for plenty of varieties of proposed houses, together with accommodations, all-inclusive inns, and mixed-use inns with complementary actual property. Touch Kristina at (305) 338-0354 or [email protected].