BHTA to increase data collection
The Barbados Hotel and Tourism Association (BHTA) is looking to increase its data collection capabilities to assist the government and private sector with future planning exercises.
The BHTA has partnered with international data provider, Smith Travel Research Inc. (STR) to provide member hotels with the company’s benchmarking services.
BHTA’s CEO, Sue Springer, said in a statement that STR produces a number of reports developed monthly which can assist with identifying a property’s market share, scale food and beverage results against other operations, and analyze and benchmark revenue costs and profit breakdown.
Springer noted that the partnership is the first of its kind in the Caribbean, and the services will be provided as a benefit to the Association’s members.
“Our association has recognized for a long time that the collection of such data has been sporadic and in some cases unobtainable. This has caused challenges for the government and the private sector when trying to plan effectively,” she said.
Springer added the agreement with STR “will allow every hotel in our membership to sign up to utilize the services of STR at a special rate for a period of one year.”
STR’s Associate Director of Business Development, Fatima I. Thompson, said they are looking forward to working with the BHTA “to elevate the global benchmarking capabilities of the Barbados hotel community”.
STR reported that as of May 2015, there were 90 properties and more than 5,500 rooms in the local market.