THE HILTON BARBADOS Resort made a profit of over $1 million during an overall national tourism decline, and will undergo upgrade a $12 million upgrade over the next three years.
This was revealed yesterday by Minister of Finance Chris Sinckler, whose portfolio includes the Government-owned hotel, which was reopened in 2005 after its demolition and only made a profit for the first time in 2011.
Speaking at the opening of the hotel’s new Hilton Fitness By Precor Gym – the first phase of the three-year upgrade – Sinckler said the 2013 profit was $1.26 million, the highest since reopening, and lauded the board and management of Needhams Holdings Inc. on “turning the situation around”.
Profits were $650 000 in 2011 and $322 000 in 2012.
He was also pleased about the performance in the current winter season, notably last month which had exceeded its targets by $167 646 for a revenue return so far of $6.8 million.
