The group representing small hotels has warned that a key state-backed financing facility must offer more competitive interest rates if it is to fulfil its role in supporting the tourism industry, as it also flagged concerns about a booking platform that has yet to generate a single reservation.
Executive director of the Intimate Hotels of Barbados (IHB) Cicely Denise Callender is insistent that the Small Hotel Investment Fund (SHIF) offer competitive interest rates to reflect its development mandate.
Executive Director of the Intimate Hotels of Barbados, Cicely Denise Callender. (Photo Credit: Jenique Belgrave/Barbados TODAY)
The SHIF, which is managed by Enterprise Growth Fund Limited and financed through the Public Enterprise Investment Fund, provides financing to small hotels that are IHB members to assist with the refurbishing of their properties, group marketing, training and the procurement of goods and services for membership of the Intimate Group.
Callender told the group’s 26th annual general meeting on Wednesday that while it remained engaged with the government on the recapitalisation of the SHIF through ongoing dialogue, formal correspondence and direct meetings, its advocacy extends beyond this.
audience. (Photo Credit: Jenique Belgrave/Barbados TODAY)
She said: “We have consistently emphasized the need for an interest rate structure that reflects the fund’s developmental mandate. A financing facility designed to support the tourism sector should offer terms that are competitive and accessible rather than rates that exceed those already available through commercial lending institutions. We have been advised that potential solutions are being explored, and we welcome the government’s consideration of this matter.
“We will continue to engage constructively with the relevant stakeholders and advocate for outcomes that ensure the fund effectively serves its intended purpose of supporting the growth, resilience, and sustainability of the sector.”
But while word of mouth and the IHB website brought guests to the hotel group, a proprietary booking engine had failed, she revealed.
Direct referrals were the leading traffic driver for the first two quarters and that the IHB website was gaining real traction, with analytics showing a “remarkable and sustained increase” in total users, she said.
But the Book Barbados booking engine, which was introduced to enhance booking opportunities and support IHB digital growth objectives, had failed to generate a single booking for the properties.
“This cannot be footnoted or quietly moved past. We recognize the effort that has gone into the platform. This remains an important issue that warrants a resolution. We have been advised that the payment gateway is where the convergent failure occurs, and time has been given for this to be corrected. However, it is important that our resolution be achieved in the near future.”
Noting the meeting’s title, ‘Preparing for New Markets – Opportunities in the Changing Tourism Landscape’, Callender said that in the coming months IHB will be rolling out a series of in-house training programmes designed to improve service standards, strengthen operational capabilities and support the continued professional development.
Pointing to the regional tourism networking and business development event, Connect Barbados, later this month, she urged IHB member properties to register and participate, saying it would provide a unique opportunity to engage with industry partners, strengthen relationships and establish new connections.
(JB)
