Adrian Loveridge Column – What is Airbnb?

Despite all the current challenges, according to news agency Reuters,

San Francisco based home sharing giant, Airbnb, is scheduled to launch an Initial Public Offering (IPO) possibly in this December.

Pundits have widely speculated that it could achieve a company valuation of more than a mind boggling US$30 billion, citing the justification was to take ‘advantage of the unexpected sharp recovery in its business after the Covid-19 pandemic roiled the travel industry’.

If the prediction materializes, it will become one of the largest and most anticipated of all U.S. stock market listings during 2020.

The company said in July ‘that customers had booked more than 1 million nights in a single day for the first time since 3rd March’.

Vrbo, one of Airbnb’s biggest competitors, owned by travel conglomerate, Expedia Group, appeared to confirm this optimism, by reporting that they had returned to bookings growth in June.

Therefore now may be an opportune time for Airbnb to access the public capital it most likely ‘desperately needs’, while investors may be enticed to buy the IPO based on improving trends.

Airbnb’s chief executive officer, Brian Chesky, has publicly stated ‘we’re going to keep our options open’ regarding the listing, despite writing a letter to employees in May ‘that its business had been hard-hit and revenue for the year was expected to be less than half of what the company earned in 2019’.

Announcing at the same time that Airbnb was letting go nearly 1,900 staff members or a quarter of its workforce worldwide.

No-one can doubt the phenomenal growth of Airbnb from its humble origins in 2007 when the initial three partners rented out a spare apartment loft space with inflatable air mattresses serving as beds, until it currently boasts representation in 191 countries across the globe.

Quite remarkable when you consider the United Nations lists of total of 193 member states worldwide.

Speculation has remained rife for years on what the overall Airbnb influence, negative or positive, has been on the traditional hotel and other accommodation sectors across all major markets.

The much respected Smith Travel Research performed a study across 13 global markets and their conclusion may have surprising reading for some.

  • Airbnb occupancy was the highest in markets where hotels had high occupancy.
  • Hotel occupancy was significantly higher than Airbnb occupancy.
  • Airbnb guests typically stayed longer than the average hotel guest, with roughly half of Airbnb room nights coming from trips of seven nights or longer.
  • Airbnb’ share of business travel was substantially smaller than its share of leisure travel.
  • Hotel average daily rates (ADR) were generally higher than Airbnb rates.

Experts commonly agree that any real comparison is viewed a bit like apples and oranges, but if you look across our region, despite the emergence of Airbnb, annual average hotel occupancy has remained fairly stagnant for a decade.

This is, perhaps, an area where a great deal more evaluation is needed and while our Government has the use of a greatly underutilized abundance of salaried civil servants, they may consider it a suitable time to research and produce more accurate local results that could prove invaluable in effective marketing strategies.

71 comments

  • peterlawrencethompson

    @Adrian
    Of course a great deal more evaluation is needed, but it is pointless to ask bureaucrats to do this when it is the entrepreneurs’ job to do their own market research.
    Here, I’ll give you a hand:
    + there are 4,288 apartments or houses listed on Airbnb and VRBO in Barbados at the moment,
    + in Christ Church 61% of them are on Airbnb, 23% on VRBO, and 16% on both platforms, but
    + in St James 32% of them are on Airbnb, 51% on VRBO, and 17% on both platforms…
    + there are only 43 listings in St Joseph.
    + etc.

    All of this information is accessible because both Airbnb and VRBO have to communicate via their APIs (Application Program Interfaces) with all of millions of host and guest computers to do their bookings. If any tourism industry gurus wish me to provide a complete analysis of this aspect of the industry in Barbados my billing rate is US$300 per hour plus expenses.

    Liked by 1 person

  • Should You Invest in Airbnb Stock as IPO Rumors Swirl?

    Vacation Rental Market to reach USD 62.97 billion by 2024, 9flats.com Pte Ltd. and Airbnb Inc. emerge as Key Contributors to growth| Technavio

    Frequently Asked Questions-

    What are the major trends in the market?
    Technological advances are the major trends in the market.
    At what rate is the market projected to grow?
    Growing at a CAGR of almost 7%, the incremental growth of the market is anticipated to be USD 62.97 billion.
    Who are the top players in the market?
    9flats.com Pte Ltd., Airbnb Inc., Booking Holdings Inc., Expedia Group Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., NOVASOL AS, Oravel Stays Pvt. Ltd., TripAdvisor Inc., and Wyndham Destinations Inc. are some of the major market participants.
    What are the key market drivers?
    Adoption of effective promotional strategies is one of the major factors driving the market.
    How big is the Europe market?
    The Europe region will contribute 37% of market growth.
    The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 9flats.com Pte Ltd., Airbnb Inc., Booking Holdings Inc., Expedia Group Inc., Hotelplan Holding AG, MakeMyTrip Pvt. Ltd., NOVASOL AS, Oravel Stays Pvt. Ltd., TripAdvisor Inc., and Wyndham Destinations Inc. are some of the major market participants. The adoption of effective promotional strategies will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

    Vacation Rental Market 2020-2024: Key Highlights

    CAGR of the market during the forecast period 2020-2024
    Detailed information on factors that will assist vacation rental market growth during the next five years
    Estimation of the vacation rental market size and its contribution to the parent market
    Predictions on upcoming trends and changes in consumer behavior
    The growth of the vacation rental market
    Analysis of the market’s competitive landscape and detailed information on vendors
    Comprehensive details of factors that will challenge the growth of vacation rental market vendors
    Table of Contents:

    PART 01: EXECUTIVE SUMMARY

    PART 02: SCOPE OF THE REPORT

    Preface
    Currency conversion rates for US$
    PART 03: MARKET LANDSCAPE

    Market ecosystem
    Market characteristics
    Market segmentation analysis
    PART 04: MARKET SIZING

    Market definition
    Market sizing 2019
    Market size and forecast 2019-2024
    PART 05: FIVE FORCES ANALYSIS

    Bargaining power of buyers
    Bargaining power of suppliers
    Threat of new entrants
    Threat of substitutes
    Threat of rivalry
    Market condition
    PART 06: CUSTOMER LANDSCAPE

    PART 07: GEOGRAPHIC LANDSCAPE

    Geographic segmentation
    Geographic comparison
    Europe – Market size and forecast 2019-2024
    North America – Market size and forecast 2019-2024
    APAC – Market size and forecast 2019-2024
    MEA – Market size and forecast 2019-2024
    South America – Market size and forecast 2019-2024
    Key leading countries
    Market opportunity
    PART 08: MARKET SEGMENTATION BY MANAGEMENT

    Market segmentation by management
    Comparison by management
    Managed by owners – Market size and forecast 2019-2024
    Professionally managed – Market size and forecast 2019-2024
    Market opportunity by management
    PART 09: DECISION FRAMEWORK

    PART 10: DRIVERS AND CHALLENGES

    Market drivers
    Market challenges
    PART 11: MARKET TRENDS

    Instant bookings
    Rapid growth of online booking
    Adoption of effective promotional strategies
    Other trends
    PART 12: VENDOR LANDSCAPE

    Overview
    Landscape disruption
    Competitive scenario
    PART 13: VENDOR ANALYSIS

    Vendors covered
    Vendor classification
    Market positioning of vendors
    9flats.com Pte Ltd.
    Airbnb Inc.
    Booking Holdings Inc.
    Expedia Group Inc.
    Hotelplan Holding AG
    MakeMyTrip Pvt. Ltd.
    NOVASOL AS
    Oravel Stays Pvt. Ltd.
    TripAdvisor Inc.
    Wyndham Destinations Inc.

    Research methodology
    List of abbreviations
    Definition of market positioning of vendors

    Yes, take the Airbnb IPO risk..
    I’m going to sell half of my glaxosmithkline/Pfizer stock to buy Airbnb…

    Like

  • ** a great deal more evaluation is needed and while our Government has the use of a greatly underutilized abundance of salaried civil servants, they may consider it a suitable time to research and produce more accurate local results that could prove invaluable in effective marketing strategies.**

    This in a nut shell sums up the attitude and approach of the local tourism players, in particular the hoteliers. They are a bunch of mendicants and parasites, expecting the people of Barbados via the government to do all the heavy lifting. The government is even responsible for market and competitor research. Unbelievable!

    @ PLT, bang on.

    Like

  • Ten years ago, in an address to the Young Association of Economists of the University of the West Indies, the late Owen Arthur, widely considered a good, even great, economist by some gave a speech on the economic crisis, without mentioning its sub-prime origin, according to a report by Business Barbados.
    There was no escape from tourism as the driver of the economy. Ten years on, now faced with another extraneous shock, we are still trapped in the obsession that tourism will fly in and save us from economic disaster.
    The source of this miracle has been in the past and we still hope it will be the UK. However, most analysts seem not to take seriously the predicament of the UK economy and the worsening CoVid crisis.
    A recent report by the Office for National Statistics, the UK’s official number crunchers, Brits are retreating from the high street, or even the joys of a long-haul holiday.
    This is reflect ed in the household savings rate, the highest level on record in Q1, and with the nation on the verge of a series of local lockdowns to cope with CoVid, it does not look as if this will change until a vaccine has been discovered.
    Yet, as a nation, we have not moved on from a decade ago when we were faced with a different crisis, but a similar response. Time moves on, but bad habits seem to never die.
    In his speech, Mr Artur told the young students: “We therefor need to cause the people of Barbados to rise up in their self-defence by creating an enabling environment that stimulates personal and corporate initiative, and suitably rewards our people for their ingenuity in transforming the nation.”
    It was hocus pocus, waffle, splattering around in the mulch of economic ideas with which he seemed not to fully understand. It will be interesting to ask any of those students who were in the audience at that meeting.
    What we do now know, is that our political and business leaders are in a similar mess.

    Like

  • @Dullard

    “This in a nut shell sums up the attitude and approach of the local tourism players, in particular the hoteliers. They are a bunch of mendicants and parasites, expecting the people of Barbados via the government to do all the heavy lifting. The government is even responsible for market and competitor research. Unbelievable!”

    Totally agreed. Barbados Tourism Authority Marketing Inc. Need to stop openly sponsoring local hoteliers on the world stage. The cost to our taxpayers can be exorbitantly expensive. STOP 🛑

    Like

  • Our tourism industry for the unforeseeable future. Are we awaiting de economic EU deliverer
    Peter Morgan’s return???

    Like

  • @ David BU

    According to media reports, LIAT is supposed to recommence operations in November 2020.

    Like

  • Peter, very insight full and thank you. Just one question please. Why have the BTMI not yet been able to fully list and register ALL the accommodation options available to enable them to meet minimum safety, insurance and other requirements and contribute to the overall marketing of Barbados?

    Regarding comments by others. This nonsense about Government subsidising any hotel has to stop, Government does NOT generate any money, but merely collects taxes from those who earn it (ie: the hotels and other tourism partners).

    Like

  • @Artax

    Let us wish them the best.

    Read another report that Antigua gets first call on the assets of it fails?

    Like

  • @ David

    Knowing Gaston Browne, I hope you weren’t surprised?

    Since BGI and SVG have both sold its shareholdings to ANU for $1, if LIAT fails, I wonder what considerations have been given to the remaining shareholder, Dominica?

    Like

  • @ Dullard
    “This in a nut shell sums up the attitude and approach of the local tourism players, in particular the hoteliers. They are a bunch of mendicants and parasites, expecting the people of Barbados via the government to do all the heavy lifting. The government is even responsible for market and competitor research. Unbelievable!”

    Thank you for telling it like it is. I have been saying this for at least thirty five years.

    Like

  • William Skinner, sadly after 35 years I would have hoped that you finally realise what you have been saying is grossly incorrect. Government does NOT generate any monies, they just spend and waste it. Our single largest industry largely generates the taxes they spend (wisely or not).
    As one of what you have called a parasite, we have just paid to Government over $283,569 in taxes and that’s for a small 22 room hotel hotel during the Covid-19 crisis, while the same Government still owe us over $27,000 in unpaid VAT refunds (since 2013).
    Get your facts straight and stop misleading those who do not know the reality.

    Like

  • peterlawrencethompson

    @ Adrian Loveridge October 12, 2020 9:22 AM
    “Why have the BTMI not yet been able to fully list and register ALL the accommodation options available to enable them to meet minimum safety, insurance and other requirements and contribute to the overall marketing of Barbados?“
    ++++++++++++
    You still seem to be losing sleep over the deficiencies of the bureaucracy… the bureaucracy is not going to save the industry whether it is efficient or not. Entrepreneurs will either innovate and prosper in a new tourism environment living with COVID, or they will not.

    BTMI is entirely irrelevant… and those who blame it for industry problems are likely only trying to obscure the fact that they are failing as entrepreneurs. There is no shame in failing, that is how we learn, but it gets expensive.

    I am a complete neophyte in tourism, but my little company, remoteworkbarbados.com, is swamped With clients and it is a 24/7 struggle to keep up with demand even though I share many clients with other companies in order to spread the joy around the economy. Terra Caribbean, for example, has placed more long term renters in fully furnished villas in the past month than they have ever placed in that type of lease in an entire season previously. The Sun Group is renovating properties on both the West and South coasts into live/work accommodation in order to try to meet this exploding demand.

    If we waited around for the BTMI to “register accommodation” just so they could send drones around the island to check if the Exit Signs were the right dimensions and in regulation red, then Barbados would have a 40% unemployment rate and the society would already be engulfed in violence.

    We don’t have the time to wait on the bureaucracy.

    Liked by 1 person

  • peterlawrencethompson

    ^ I meant to say that Barbados would have a 40% poverty rate ^

    Like

  • peterlawrencethompson

    @Adrian Loveridge October 12, 2020 9:22 AM
    “This nonsense about Government subsidising any hotel has to stop,”
    ++++++++++++++++
    You will need to break this news to both the Government, the BHTA, and the BWU as they spend hundreds of millions of taxpayer dollars subsidizing employment in hotels but not in other sectors. Since the wage bill is the single largest cost in a hotel business, subsidizing employee wages with public money IS subsidizing the hotel owners with public money.

    Like

  • peterlawrencethompson

    @Adrian Loveridge October 12, 2020 9:22 AM
    “This nonsense about Government subsidising any hotel has to stop,”
    ++++++++++++++++
    You will also need to reveal this insight to Mr Stewart at Sandals Resorts, because he and his accountants are pretty certain that the concessions that they skilfully extorted from the Barbados Government are indeed a way of subsidising their operations.

    Like

  • Critical Analyzer

    The government squandered the time since March because the behemoths that are the BTA, BTMI needed to be disbanded or a major mandate change and restructuring.

    The model for success needs to be one of clear definition of roles and placing the responsibilities in the hands that have the most to gain or lose.

    The way for Tourism is the same as with all other industries such as Agriculture, Manufacturing, etc.
    1) Governmental agencies only responsibility needs to be to establishing standards, regulate those standards and deal with trade agreements, treaties and international laws which are things only governments can tackle.
    2) Form associations and put the responsibility for marketing and charting the way forward for the industry in their hands. The industry’s success or failure will be in their own hands.

    Using Tourism as an example, there should be unique associations for all significant sectors i.e. large hotels, small hotels, AirBNB type accommodations, restaurants, bars, night clubs, beach vendors, tour operators, etc. and they should be able to pool their resources to fund their own marketing, ventures and present proposals to the governmental agencies for various initiatives that will need regulation changes trade negotiation or treaty support.

    Like

  • Willian, Correction. This ‘parasite’ has just paid $394,711.91 in taxes to Government and not previous figure quoted.

    Like

  • Carson C. Cadogan

    Are you supporting TONI MOORE???

    Because you know you WHITE PEOPLE support the Barbados Labour Party.

    Like

  • peterlawrencethompson

    STFU Carson C. Cadogan, because I know plenty of White people who voted for the DLP in 2008.

    Like

  • Call it a bailout, Caribbean style.

    Barbados, a popular vacation spot for the affluent, is bailing out the troubled Four Seasons luxury-resort development on the tiny island. Construction of the project stalled a year ago as financing dried up and sales of its private villas slowed, after initially attracting a cast of celebrity buyers.
    In a bid to salvage jobs, the government of Barbados
    agreed last month to guarantee a $60 million loan from a Caribbean bank to help restart construction. In return for the guarantee, the government ultimately will end up with a 20% equity stake in the project.

    Four Seasons Barbados Resort To Resume Construction

    Hotel Business Hotel Business
    9 years ago
    PARADISE BEACH, BARBADOS–Construction of the 110-room Four Seasons Hotel & Residences here, which shut down in 2009, may resume this spring.

    According to developer Paradise Beach, Ltd., new financing for the project has been arranged, backed by the local government. The mixed-use luxury development is scheduled to include 35 condominium residences.

    News of the owners plans to resurrect the project was first reported in The Wall Street Journal.

    Hi, I got told by a cab driver that sandals brought it about 15 years ago but the Barbados goverenment refused them permission for a private beach , (hooray) so they just left it to rot . Work on the four seasons hotel and private villas stopped last feb just as we arrived for our holiday, and to my knowledge has not started again since, according to british press Simon Cowell has 15 million pounds wrapped up in this development.

    All alleged????

    Like

  • @ Hal

    The reality is the BHTA et al have not plugged into reality yet. The long term 6 month or so live and work market is a safer bet and this is why I say this.

    As PLT has said these people will come here for several reasons but you know what the biggest is surprisingly that some who want to come are telling me? They say its because we have one of the lowest rates of internal covid cases. So imagine little Bim because of our mask wearing and procedures, is being seen by these people as a safer place to work than New York or London over the next 6 months.

    Traditional tourism will be on the back burner for a while. With infections climbing globally and the colder weather now coming in this is inevitable for a growth in new cases. What we also must realise is the massive blow our markets overseas have taken in terms of their economies and job losses. To many there now a Caribbean holiday is the least of their concerns, when they may be 2 months behind on their mortgage.

    From what i am being told Barbados needs to stress more in its come here to work campaign our domestic covid figures. In other words new cases less those caught at the port of entries. This is the trump card many will come for as they are just not comfortable that the leaders in their home countries have control of the virus and as a result would prefer work and sit it out here till a working vaccine is found.

    Liked by 1 person

  • @ John A

    There is wishful thinking that tourism from the UK will return to the 2000s level within seeks. This is a dream. But our political leaders are more concerned with the by-election than with sorting out the economy. That is now on the back burner.
    And, of course, the usual suspects are out campaigning and ignoring the gradual breakdown of tghe social order. For Heavens sake, we have 40 per cent unemployment, and that is the official number, which means it is really 50 or above.
    A level of 10-15 per cent is usually a crisis, but in Barbados life continues. What is more, most of that unemployment is in the 16-25 age range; apart from its impact on the long-term career futures of those men and women, our leaders close their eyes to its impact on crime, including gun crime. They do not want to see a connection.
    Then in the Queen’s Speech, Bds$300m were allocated to support the badly managed, family-owned hotel sector. Even if we were to accept this line of thinking, and I do not, a better use of that $300m from foreign reserves would be to use at least $50m to fund the balance sheet post office/credit union bank they talked about.
    They can set this up with off the shelf soft ware to turn the 18 post offices in to banks, one by one, and gradually train up the staff, who already do most of the necessary work.
    The principles of a balance sheet bank are simple: when lending charge borrowers a higher interest rate than they pay to savers. The add ons, such as credit cards, payments, etc can be done later.
    The poverty of ideas was something we laughed about, but it is now impacting the very survival of the nation.

    Like

  • @ Hal

    Yes it is a sad state when with all these post offices scattered over the island, our goverment prefers to pay SUREPAY a commission rather than collect payments by one cheque at the post office. Also why can’t I pay my land tax and vat at the post office? Are not both of these goverment revenues like the water bill and STV ?

    There is so much more we can do for our people if we would just take off the blinkers and think progressively.

    Like

  • @ John A

    We must not underestimate the intelligence of our politicians, from both arties; they have all had very good ideas told to them. We must therefore look for other reasons why they have not implemented any of them so far.
    I once out an ide for tourism and leisure to a very senior member of this government in a one-to-one who thought it was interesting, after two and a bit years, s/he has not even ask a question about it.
    It was an attempt to shift the economy from tourism, to one of tourism and leisure. Zilch.

    Like

  • Carson C. Cadogan

    peterlawrencethompson

    Who is talking to you?????Wait till your trough put and then bubble in it.

    Like

  • @Hal Austin October 12, 2020 8:38 AM “… the worsening CoVid crisis.”

    But John who is a Barbados scholar has told us that the pandemic is over.

    Like

  • @Adrian Loveridge October 12, 2020 10:18 AM “Government does NOT generate any monies,”

    Or in plain language. The government don’t work nowhere. The government doesn’t have a NIS number or a TAMIS number.

    All governments tax and spend, wisely we hope.

    Like

  • I do housekeeping for an Air BNB. There were three bookings for September which is typically a low month because of the heavy rainfall, which sadly we turned down because of the potential risk of getting the apartment ready immediately after one guest has moved out and another needs to move in 5 hours later. Because of my multiple co-morbidities it wasn’t worth the covid risk. A long term booking has been arranged for the whole winter. I can handle that. Clean the vacant apartment the day before. Quick hand over to a returning guest, Clean up a week after the guest has left. Give some of the germs time to die off.

    Will I be buying shares in Air BNB? No. Not enough spare cash lying around.

    Like

  • @AL
    I “think” you need some tax planning help. At a minimum some advice on using losses from elsewhere to reduce your taxes.

    Like

  • @John A October 12, 2020 3:29 PM “…he biggest is surprisingly that some who want to come are telling me? They say its because we have one of the lowest rates of internal covid cases. So imagine little Bim because of our mask wearing and procedures, is being seen by these people as a safer place to work than New York or London over the next 6 months.”

    Not surprising at all. BUT, there is always a but. If the people who come on the 1 year welcome stamp behave as idiotically as their peers have been behaving at home, [no masks, no hand washing, up in other people’s faces] then we have have the same bad covid situation here as they have just fled from.

    Wunna know how immigrants tend to behave. They migrate from “shit hole’ countries, then by their BEHAVIOR try to turn the new country into the old ‘shit hole/covid infested” country.

    The “Ellerslie Covid cluster” started by an English visitor is within 10 minutes walk of my home, so I have had to be very, very careful over the last week or so. The English visitor could have paid her housekeeper 1 week’s wages NOT to come in.

    Stupssseee!!!!

    Like

  • Most mornings now I am very, very, afraid to open the newspapers.

    Man in Grenada went to visit his “intimate partner” while she was in a covid quarantine hotel [the newspaper did not report the purpose of his visit. When security caught up with him, he jumped through a window and broke his leg.

    When I read this I wasn’t sure whether to laugh or to cry.

    And some of the boys of BU get vex with me when I point out that way too many men, real, real foolish.

    Like

  • @@SS, for you

    Like

  • “And some of the boys of BU get vex with me when I point out that way too many men, real, real foolish”.

    Bad relationships are the result of foolish behavior.

    There’s a fine line between being a faithful or foolish man. I didn’t really understand this until after I went through a divorce of a 16-year marriage. It’s ironic how relationships always seem to expose either faithful or foolish behavior.

    As embarrassing as it is to admit, I realize now, I was a fool. But before you judge me, let’s be honest; we’ve all been fools. The only question is what kind of fool have we been? I hope this question doesn’t offend you, but rather enlighten you. Since I’ve confessed my little secret to you, allow me to show you the 5 ways I’ve been a fool, and see if you’re able to relate to any of these behaviors. Here are 5 ways men are foolish.

    Simple Fool

    Meaning, I simply didn’t know any better. Although I accept full responsibility for my past mistakes, as the son of a 16-year old single mom, I didn’t know, at age 22, how to be a good husband, father, and leader of my family. I had no clue what it took to be a man. I was naïve; I didn’t even know what I didn’t know. The simplest cure for being a simple fool is to ask before you act and look before you leap.

    Stupid Fool

    As a simple fool, I didn’t know any better; but as a stupid fool, even when I knew better, I didn’t always do better. So I repeatedly made mistakes I saw other men make. A good example of this was when I first started watching fake wrestling moves
    One radical way to avoid being stuck on being a stupid fool is to keep a journal of your mistakes. Trust me, after you read that list, you’re less likely to repeat it.

    Stubborn Fool

    I didn’t struggle with not knowing better; I just thought I knew better than everyone else. I was always right (in my own eyes), and you couldn’t tell me anything. I was quick to anger and quick to argue to justify my foolish behavior. Whenever you find yourself being a stubborn fool, break the cycle by adding this single phrase to your opinions, statements, or decisions: “But you know, I could be wrong.”

    Scorning Fool

    Yes, I knew better, but I refused to do better. I rebelled against everyone when it came to getting what I wanted. I allowed my foolishness to kill my relationships because I refused to humble myself and admit my wrongs. I knew right from wrong, but I refused to stop because I selfishly was enjoying what I was doing. The quickest way to come to your senses as a scorning fool is to always ask yourself, “Is this really worth everything it’s costing me?”

    Serious Fool

    I didn’t just know better than everyone else, I thought I knew better than God because I didn’t believe God’s opinion mattered. I thought I knew what was best for me, and God never figured into the equation. Unfortunately, the only way out of this type of foolishness is usually us hitting our rock bottom.

    Are you a foolish man 👨???

    Like

  • @ Adrian
    This is the usual response: we pay taxes . So does every citizen. How about profit margins over the same period. Do you pay taxes on what you don’t earn?
    So, what are the plans now? Get real.
    Cave Shepherd just took a multi million dollar hit. Manufacturers have been decimated. They pay taxes too!
    We need to have a real conversation about the entire economy not just tourism.

    Like

  • I am taking a look at PLT’s page. I like what I see, but if possible increase the contrast. Some of the people who want to stay in Barbados might be over 60 and the contrast could be sharper for us who fall within that demographic.

    “The Barbados Capital is Bridgetown in the Southwest, which has many retail stores, business places, commercial banks, a few restaurants, and local fruit and vegetable [AND FISH} markets.”

    Barbados sits right in the Atlantic/Caribbean sea, people expect fish, and some people like me love fish markets. This woud possibly give a boost to the fishing communities as well.

    A bit about whether the water is economically heated by solar electricity would be nice as well.

    ” It is against the law for women to go topless in public under any circumstance, ”
    Some of the people who come may be breast feeding mothers, and it is not unlawful for a woman to breast feed her infant in public. If visitors take public transportation they may notice this as well especially immediately after work, when mothers feed their hungry babies on the bus. And some North American and European are breast feeding activists, and take the right to feed their infants on demand very, very seriously. See La Leche League. So I would edit as follows

    ” It is against the law for women to go topless in public under any circumstance, ” Except for a woman breast feeding her infant.

    Like

  • “small ZR vans (white with a purple stripe)

    The ZR stripe is burgundy

    Like

  • To: PLT

    Add 2 more things
    One: Something about dental care because dental emergencies happen at the most inconvenient times.
    Two: Something about faith communities, because almost certainly some the the remote workers will be believers.

    Like

  • Airbnb IS A WONDERFUL TOOL WHERE ORDINARY BLACK BAJANS CAN LEVERAGE THEIR REAL ESTATE TO CREATE WEALTH AND EARN AN INCOME FOR THEIR FAMILY OR THEMSELVES THROUGH RENTING SPARE ROOMS OR WHOLE RESIDENCES.

    IT GIVES THEM A LEVEL PLAYING FIELD AGAINST THEIR WHITE COLONIAL FORMER MASTERS WHO DOMINATE THE HOTEL INDUSTRY.

    I SAY KUDOS TO Airbnb AND OTHERS THAT ALLOW LOCAL BLACK BAJANS TO BENEFIT FROM WEALTH CREATION..

    Like

  • peterlawrencethompson

    @ Cuhdear Bajan,
    Thank you, I will take your helpful suggestions.

    Like

  • Great job Tony…just seven more steps to go

    Like

  • Peter can you be more specific on data, if I rented 2 villas long term last year and rented 4 this year I have increased my rentals by 100% but am not doing good. Would you say any increase may be people that cant or dont want to return home because of covid. I disagree with Bage on airbib it will not be wealth creation but more allowing people to keep there heads above water. Trillions of dollars have been lost and somebody is going to have to pay for it in the way of more taxes, business,property, income, vat, but also apt rents are frozen commercial tenants cant pay because they are shut even people with lots of property are going to have a cash flow problem So people at both ends of the income spectrum are going to see any holiday as non essential til the air clears and a vision of the future is more clear.

    Like

  • No problem Peter.

    Like

  • Tony,

    Yup! Done a few stupid things in my time. Looking back I wonder what the hell I was thinking.

    Like

  • Critical Analyzer

    @Lawson October 13, 2020 8:56 AM

    The problem with your comment is one I see stemming from our own limited mentality that we are too small and like to punch above our belt without taking risks. There is lots of money to be made in a crisis and we are fast missing the boat with our haphazard COVID policies.

    Look at the situation in UK and Europe heading into winter. Don’t you think every last one of the older population want to be there come winter. Give the at-risk demographic an opportunity similar to what the rich people have been doing to spend winter in the Barbados at an AirBNB, villa, etc. at a rate they can afford for 3-4 months where they can continue to access their pensions and enjoy the sun, sea, sand and air.

    If we insist on sticking with this tourism solution, the least we can do is to make a serious effort to pick all the low hanging fruit.

    Had I been government, I would have focused on setting up our own AirBNB like registry on through the BTA/BTMI to get as much of that business under properly regulated accommodations and directly accessible through barbados.org or whatever our official site is.

    Like

  • @Tony October 12, 2020 6:07 PM “The only question is what kind of fool have we been? I hope this question doesn’t offend you…”

    Not offended at all.

    I too have been a victim of MY OWN foolishness.

    Life!

    Like

  • @Lawson October 13, 2020 8:56 AM “… going to see any holiday as non essential ”

    It will be hard but not impossible going forward.

    i was planning to visit lawson [or at least his country] this summer, but truthfully I am not willing to get on a plane for non-essential travel.

    But I do miss the opportunity to take a holiday, and I look forward to being able to do the same safely again.

    Like

  • Hint to people with Air BNB’s

    ONE: Ensure that your place is the cleanest place that your guest has ever experienced. Clean inside and clean outside, including your arrangements for garbage disposal and the road outside of your place. NOBODY wants to see a pies of garbage, weeds and plastic or glass debris. If the government won’t do it you have to do it yourself or pay someone to do it, and check that it has been done properly.

    TWO: And this may be counter intuitive. Spend a little more money even in this very hard time. If your guest arrives late in the evening, or in-between mealtimes, and they don’t wish to go out in the dark, don’t wish to drive in the dark on their first day, if there are no restaurants nearby, if the restaurants are closed in-between lunch and dinner, and your guest has been up since 3:30 a.m, is jet lagged, hungry, tired, sweaty, it is YOUR BUSINESS to offer them something to eat. Spend $20 or $30 and put some bread, juice, tea, coffee, eggs, milk in the house. But no bacon unless you know for sure that they have no religious objection to pork, or to meat on the whole. When you are hungry and tired the ability to make yourself a little hot meal seems like heaven. Well worth the tiny “investment”.

    P.S. Once a relative offered Air BNB guests a free traditional Bajan Sunday food. You would think that thy had spent a million dollars, instead of about $20.

    It may be all about money for the principals of Air BNB and similar, but for the hosts, it must all things big, and little that makes people to be happy to be with you, and to come back again.

    Like

  • @ Cuhdear Bajan
    October 13, 2020 9:57pm

    Rationality, Foolishness, and Adaptive Intelligence was the core of my situation.

    Like

  • Cudhear Bajan, your 10:21, is right on target. when I stayed in a family house, the caretaker, not a relative used to put the essentials in the fridge for me. Sometimes they would cook a meal. On my last visit I stayed at an airBNB in Sunset Crest. they had their own garbage can and had a private collector come every two days to remove the garbage. She had 3 apartment in the house. The other houses around used to dump their garbage in the lady’s can and put it all on the ground when full. She bought me dinner from Massy, but I told her it would be better to put the essentials in the apartment for future guests. The thanked me profusely. She was young and Guyanese Indian.

    Like

  • @cuhdear
    That kind of advice is priceless.
    It generates good will and happy customers who will give you pleasant reviews and references.

    Like

  • peterlawrencethompson

    @Critical Analyzer October 13, 2020 9:55 AM
    “Had I been government, I would have focused on setting up our own AirBNB like registry on through the BTA/BTMI…”
    +++++++++++++++++++
    I made a proposal to Invest Barbados to do exactly this, but…
    They are bureaucrats, not entrepreneurs, so I have come to the conclusion that it is not worth my while to wait on them.
    So that’s what I started out to build myself. We should have launched sooner, but we spent 6 weeks building a fancy Airbnb type direct booking program for our website only to learn that hardly anyone wants to reserve a place to stay for a whole year without inspecting the place and the neighborhood for themselves. So we have become real estate agents and we will simply help clients secure just the right place after they are here in Barbados to see what is available personally.

    Like

  • peterlawrencethompson

    @Cuhdear Bajan
    If you wish to list your place for rental to long term people here on the Welcome Stamp, please list it on the Remote Work Barbados website at https://remoteworkbarbados.com/en/housing/for-rent/454/all_houses.
    First register using the form in the top right, then go back to the link above and click the ‘Add House’ button.

    Like

  • Considering it.

    Like

  • Critical Analyzer

    @PLT
    I’m not surprised your proposal to add a registry to their site was rejected. Chances are the site will be updated in the not too distant future with something like that.

    Looking at your site, I suggest you try to standardize all the listings added to force listers to give alot more information about the rental to quickly answer questions renters would have since they are coming long term and will be easier on them the more amenities details known upfront.
    1) Have a Utilities Section specifically listing which utilities are available and included/excluded/optional in the rental price. i.e. Electricity, Water, Internet, Cable.
    2) Have a Rooms Sections listing each room alongwith checkboxes for the main contents in the rooms i.e. Living, dining, bathroom, kitchen, office, etc.
    e.g. Kitchen section should include checkboxes for dishwasher, fridge size, stove size, sink type, microwave, etc. Bedroom sections should include bedsize, wardrobe type, etc..
    3) Add an upload video walkthrough. You can create a youtube channel and post uploaded videos there after you vet them and link them to the listing.

    Like

  • peterlawrencethompson

    Lawson October 13, 2020 8:56 AM
    “Peter can you be more specific on data…”
    +++++++++++
    The Terra team said that they rented 70 long term villas in 30 days.

    Like

  • Peter,

    you state

    ‘hundreds of millions of taxpayers monies subsidising employment in hotels’
    Gosh! I thought that is what the employers and employees contribution to the NIS funds was supposed to do! Have I got it all wrong?

    ‘The NIS is designed to provide employees with assistance when income earning is effected’

    Like

  • peterlawrencethompson

    @Adrian Loveridge October 14, 2020 3:53 PM
    “Gosh! I thought that is what the employers and employees contribution to the NIS funds was supposed to do!”
    ++++++++++++++++
    The NIS is not supposed to favour one sector of the economy over another. If hotel workers get their wages subsidised so that they can open hotels again, what about restaurant workers, what about transportation workers, what about maids and gardeners who take care of villas? So you can see how one sided and unfair that is. The NIS is designed to provide unemployment insurance to workers… that is what the “i” stands for. When you bend it to subsidise private sector business operations, because make no mistake that is what it is doing, then it is no longer insurance… it is corporate welfare.

    Like

  • Peter,
    I partially agree, BUT what are you really saying? Have the contributions made by employers and employees of hotels since the inception of NIS, including the compounded accruement of interest over that entire period already been exhausted? If this not the case then the use of the word ‘subsidise’ is inaccurate. Someone would have to product credible evidence to prove that these funds have been totally spent already, otherwise we return to the NIS mission statement ‘ The NIS is designed to provide employees with assistance when income earning is effected’.

    Like

  • @Adrian
    I commend your commitment to your craft but surely even you can see the disproportionate, even excessive government support of tourism “industry” in the island?

    Like

  • Dullard,
    thank you, but I do not think its disproportionate. When any other sector contributes anything close to what tourism does, then I will support that sector to the same degree. Look again at the level of taxation on tourism, starting with departure taxes, VAT, room, ancillary service levies, additional taxation of car rental vehicles etc., etc., and you will get some idea of the lack of Government support in real terms.
    Even the BTMI is now financed by the private sector taxes.
    And what is Government’s contribution?
    The disaster’s of Hotel and Resorts (GEMS), lease of a Carnival ship for CWC2007, Harrison’s Cave and so on. There alone is over ONE BILLION DOLLARS squandering of taxpayers monies already without private sector involvement. Add the damage caused by the unilateral granting of concessions to Sandals, which inevitably has severely damaged investment and you get a better picture of reality.

    Like

  • Most of these island has tourism as the dominant (and often the sole) contributor to their economy.

    The easy answer is to say tourism is the key to economic recovery. This provides no additional information.

    Like

  • @ peterlawrencethompson. Your idea is producing results.

    “High-end real estate developers are beginning to reap dividends from the 12-month Barbados Welcome Stamp initiative, which was officially introduced just over two months ago.”

    https://barbadostoday.bb/2020/10/15/bbig-buyers-purchasing-properties-seeking-investment/

    Like

  • Donville inniss the old industry minister is probably trying to figure out why he may be going to jail for 36 grand and the bidens will get nothing for the million dollar grift they have been running.
    So Hants this is how this stuff works. Biden is exposed platforms like twitter cancel anybody talking about it …the media says twitter
    it so it is false and biden lays low
    High end developers are reaping benefits the article says people looking for investments, paper printed it …it must be true better scrape everything together and invest…..self fulfilling prophecy

    Like

  • twitter cancelled it

    Like

  • https://barbadostoday.bb/2020/10/16/tourism-official-expects-no-major-fallout-from-cdc-travel-advisory/

    I agree. I think the average US citizen can read and sift the news for themselves.

    Currently, given the US handling of COVID 19, the CDC warning is nonsensical. My fear is that as COVID-19 continue to run rampant in the US, Barbados may import some COVID-19 as we open our border to others.

    The government has to be continually vigilant and maintain their safety protocols as the number of visitors increases.

    Have a great day Barbados

    Like

  • peterlawrencethompson

    @Critical Analyzer October 13, 2020 9:44 PM
    Your suggestions are all excellent ones. I will be implementing some of them right away, and others when I have grown my team to the scale that gives me the capacity to implement. Thank you.

    Like

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