By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

Baha Mar is experiencing a “softening” in bookings with figures “slightly below” last year’s record-breaking numbers heading into the slower fall season, its top executive revealed yesterday.

Graeme Davis, the Cable Beach mega resort’s president, explained that despite the softer short-term outlook bookings are “robust” for 2025 and the property is currently focused on lowering rates to increase occupancy.

“We are seeing a bit of a softening. We’re at numbers that are at, or maybe slightly below, last year going into the fall,” said Mr Davis. “Booking pace for 2025 is robust, but not as robust as we would have expected. But we are very aggressive in driving value, providing lower rates. We want to drive occupancy and volume to the island and to Baha Mar.”

Mr Davis said the Caribbean is experiencing lower bookings due to the upcoming US presidential election while consumers are feeling a “pinch” in the economy. “We had high expectations throughout 2024 from 2023’s record setting numbers, but we’re finding that there is a softening in the market, particularly in luxury, particularly in the Caribbean,” said Mr Davis.

“We’re not just feeling it ourselves, nor is just the country, but as the Caribbean as a whole. I think with elections going on right now in the US, I think people are feeling the pinch of the economy.” Mr Davis said the resort still has “solid” group and event bookings, and will be hosting the International Luxury Travel Market conference next week which will attract the top 1,000 travel agents from North America.

The resort will also host the Derek Jeter Golf Invitational this weekend and a culinary and arts festival next month. “We’re very focused. The group pace, as far as meetings and incentives go, we’re very optimistic for 2025. Our booking pace on the group side is very solid,” the Baha Mar president said.

“We want The Bahamas, and particularly Baha Mar, to be the epicentre of art in the Caribbean.” Mr Davis said the new $18m jazz club, located in the Baha Mar casino, will open in November and will attract more local and international performers.

The jazz club, which currently can hold 60 guests, will be able to accommodate over 380 guests when it reopens. “We’re very excited in November to open up our new jazz club,” said Mr Davis.

“It will be 12,000 square feet on the casino floor. Our soft opening will be late November, and we’ll have a grand opening in January with a celebrated artist that will have his name on the jazz bar itself. Its capacity will be growing from 60 seats, where we are today, to 280 seats with capacity of over 380 standing and seating in our new jazz club.

“This is an $18m investment we’re making in our casino floor with this new jazz club, and we’re excited to have our local jazz musicians and artists that are playing today will continue to play with us, and we’ll also have celebrated artists around the world coming in play as well.”