Ocho Rios Pier repairs impact Dolphin Cove

 




Dolphin Cove Limited (DCOVE) for the first quarter ended March 31, 2025, reported a 17 per cent fall off  in total revenue down to $4.08 million compared to $4.90 million in the corresponding three months last year.

Pre-tax profit for the three months reflected a 60 per cent fall off. The quarter’s results were attributed to repairs ongoing at the Ocho Rios pier and the impact on operations,’

From its 2024 annual report, tourism was significantly impacted by bad weather. In February, the Ocho Rios port suffered damage and closed operations. The pier is expected to be back in operation in Winter 2025.

Hurricane Beryl also left the company   without a summer season.

In 2024, the USA market, the main driver of visitors to Jamaica, represented 74 per cent of total visitors and decreased by 5 per cent versus 2023.

Dolphin Cove closed the year  with a total attendance of 182,513 pax, down 9 per cent versus 2023 (200,880 pax). The company received a total of 292 calls, compared to 310 calls in 2023.

Management noted that during the year, due to bad weather and cruise cancellations, DCove experienced a loss of 10,002 pax across all parks in Jamaica.

 Gonzalo Pacheco, CEO of Dolphin Cove Dolphin Cove commented in the annual report, “Despite the disruptions from weather and other industry challenges, forward bookings are looking promising and so as an industry we are hopeful that tourism in 2025 will continue to make strong contributions to the economy.

“We have increased our room stock in the last two years adding over 3,000 rooms, and so with the continued push to bring more airlifts to the island and from new destinations we are positive that there will be strong upticks in output from the sector this year.

“ Concerning negative travel advisories, we remain in dialogue with our US partners as we work to reduce current ratings and with crime and other major incidences trending downward, we are hoping in seeing favorable updates in this area.”

Caribbean Money Daily

Comments

Post a Comment

Popular posts from this blog

Kintyre makes US$300,000 investment in Sevens Ice

Image
  Tyrone Wilson Chairman, President and CEO Kintyre Holdings (JA) Limited (KHL) and Seven Kingston Limited, owners of the Seven Ultra Lounge and Restaurant, on January 14 announced a joint venture to launch Sevens Ice. Kintyre Holdings has made an investment in excess of US$300,000 in acquiring an associate stake in Seven and also establishing the start-up for the ice venture. "This initiative addresses Jamaica’s growing demand for high-quality ice, with operations set to begin in Q1 2025," Wilson stated. Additionally, the venture has acquired a cold storage facility to manage its start-up capacity and is exploring the importation of ice to bridge the gap between demand and supply, ensuring a consistent and reliable market presence. Distribution Expansion Wilson said that Sevens Ice has secured a distribution point in Kingston and is in the process of setting up another in St. Catherine to serve the western and central parts of the island. This expansion will ensure broade...
Read more

BCMG increases risk management oversight: Launches surveys-as-a -service

Image
Insurance brokers in Jamaica often send underwriters themselves to survey risks; however, they frequently do not have the technical knowledge required to produce the best results. BCMG Insurance Brokers Limited (BCMG) in response, introduced - in support of the wider brokerage industry - an updated surveys-as-a service product which has been embraced by the wider community as groundbreaking. Senior Risk Manager on the New Business Team of BCMG David Lazarus explains, “We saw where the technical details and in-depth knowledge of the intricacies of business operations were not always being taken into consideration. This was seen as an opportunity to expand into this space.” In 2020, Billy Craig Insurance Brokers and Maritime General Insurance Brokers, MGI, signed an agreement to merge their operations to form BCMG Insurance Brokers Limited. Following the union, the new company has been exploring options to expand the service capability of the brokerage and increase value for clients...
Read more

Wish List: University Hospital CEO seeks top-flight CFO for turnaround miracle

Image
  It's a puzzling end of year for the finance team at the University Hospital of the West Indies where, despite an ongoing plan to quadruple plant size and service centres for the teaching institution, its current state is one of insolvency, with CEO Fitzgerald Mitchell wishing for a new Chief Financial Officer with a touch of genius to help in turning things around. Medium term, the government is aiming to significantly update this, the Caribbean's premium medical hospital and teaching school. At last report, the price tag on the project was $4.9 billion. In the works are plans for a new 6-storey, 120,000 square feet medical facility, which will accommodate an additional 40 medical and surgical beds, improvements to outpatient or ambulatory surgery, lecture rooms, conference rooms, and upgrading of the cardiology hybrid interventional surgery room and the neonatal intensive care and administrative departments. However, the institution is currently struggling to become solvent ...
Read more