Caribbean Hotel’s Hit Hard by Recession

PKF Hospitality Research (PKF-HR), an affiliate of PKF Consulting, announced today that, according to its newly released 2009 edition of Caribbean Trends® in the Hotel Industry, the average Caribbean hotel saw bottom-line profits decline 16.0 percent in 2008.  The report concludes that the global economic recession was the primary driver of the double-digit profit decline.  Given the poor market conditions observed this year, further profit deterioration is expected in 2009.