hurricane recovery
Disaster-Related Hotel Business Loss Recovery – Unique Challenges
Mark Earle | October 18, 2018
By Mark Earle Hurricanes Michael and Florence are both gone, but the extent of their destruction is now coming into clearer focus. Michael-caused losses in property and income are estimated to be $15 to $21 billion, according to Moody's Analytics. Boston-based insurer Karen Clark & Company (KCC) released an estimate of $3.7 billion for storm surge alone. KCC's catastrophe models estimate that Hurricane Michael caused about $8 billion in privately insured losses, which do not include losses covered by the National Flood Insurance Program. While Michael was the fourth-strongest storm to hit the U.S. since record-keeping began 1951, it...
Puerto Rico’s Tourism is on a Path to Quick Recovery
Puerto Rico Tourism Company | October 12, 2017
Airlines, cruise lines and hotel partners' joint relief efforts these past few weeks demonstrate the importance of Puerto Rico as a destination and hub in the Caribbean. Luis Muñoz Marín International Airport (SJU) is fully operational with all airlines back to regular schedules. Royal Caribbean International resumed homeport operations. Major hotels are at full capacity given relief efforts and taking on new reservations beginning this week. SAN JUAN, Puerto Rico--October 12, 2017--Just three weeks after the passing of Hurricane Maria, Puerto Rico's tourism industry has come together to move forward on a path to rec...
The Impact of the September 2017 Hurricanes on the Islands of the Caribbean
September 26, 2017
By Kristina D'Amico and Leora Lanz When Ebola struck the Sub-Saharan continent in the summer of 2014, thousands of travelers canceled their safari plans in South Africa, resulting in an immediate decline of multimillions of dollars given the tourist cancelations. Truth be told, South African cities such as Johannesburg and Cape Town were more than 2,000 miles from the epicenter of the outbreak, unlike the wildly successful summer destinations of the South of France and England, which were actually far closer to the sources of the viral outbreak. Unfortunately, the geographically challenged visitors, who could have seamlessly enjoyed the...
