Ocean Terrace Inn – St. Kitts – Nevis Hotel
Basseterre, Saint Kitts – Nevis
July 21, 2008 (CUOPM)
Ocean Terrace Inn (OTI) is reporting higher revenues and improved profits in 2007.
The parent company, TDC, which made pre-tax profit of EC$15.3 million in 2007, said OTI, a 71-room and 8 condominium hotel, benefited tremendously from the ICC Cricket World Cup matches that were staged in St. Kitts during that year.
“This along with management’s success at winning’s back former corporate customers resulted in higher revenues and improved profits compared to last year. Several initiatives were taken that resulted in solid cost saving in other areas despite high maintenance and utilities costs,” said the TDC Group report.
The company said its TDC Airline Services Ltd in St. Kitts made a loss last year following a small profit in 2006. The loss was incurred despite management’s best effort and increased revenues from the Western Union businesses.
TDC Airline Services Nevis Ltd also had a very challenging year in which it again sustained a Net Loss.