Tuesday, April 23, 2024

Hoteliers seek faster payments

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Hoteliers are hopeful that the days of visitors enjoying their vacation and leaving Barbados before tour operators pay for their accommodation are now over.

While acknowledging that this may still not happen in all cases, Barbados Hotel & Tourism Association chairman Geoffrey Roach said international tour companies had agreed they would be paying tourism property owners faster.

Roach shared news of this outcome while participating in an Accountants’ Week 2020 online panel discussion on the topic Beyond Staycations.

“We had some tour operators who were very good, they would pay us early, then there were others, some of the big boys on the block, who could flex their muscle and the hotels might be holding receivables from tour operators 30 days after a vacation has been completed, sometimes 60 days after,” he explained. (SC)

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