|

Business

Hanover boosts Dolphin Cove

By Shamille Scott Business reporter scotts@jamaicaobserver.com

Wednesday, March 06, 2013



Dolphin Cove's operation in Hanover boosted sales for the tourist attraction last year.

However, the location, called Dolphin Cove Negril, just managed to utilise half of its capacity last year, leaving it with a fair amount of room for growth, according to its CEO, Stafford Burrowes.

"We can get more from the hotels in the west," he said.

The company's revenue was $1.1 billion for the year that ended December 31, or 16 per cent higher than in 2011.

The attraction in Lucea, outside the resort town of Montego Bay, opened in the latter part of 2010.

"We've done well with the Royal Caribbean Cruise Line moving from Ocho Rios to the Falmouth Pier," Burrowes said.

That helped to bump up the profits.

Dolphin Cove's net profit for the year under review was $251 million, compared to $204 million in 2011.

The company's sales from the dolphin attraction increased by nine per cent in 2012, when compared to the year before, while sales from its ancillary services, such as the gift shops, grew by 31 per cent.

Sales in Ocho Rios for 2012 were $972 million, $104 million more than in 2011, but its profit after tax for 2012 fell slightly by four per cent.

The net profit for the park in Hanover at the year ending 2012 was $75.9 million, $47.4 million more than 2011. The revenue from that attraction was $300 million, 35 per cent more than in 2011.

Dolphin Cove's operating expenses increaesd by $112 million, from $743 million to $855 million.

"We will be making significant efforts to cut back on our expenses," Burrowes said.

The tourist attraction plans to set up business in the Turks and Caicos Islands and St Lucia, as part of a five-year plan to have two new locations in two different areas.

"The plan is to start one of those overseas operations before the end of this year," Burrowes said.



POST A COMMENT

HOUSE RULES

 

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus

J$98.96 to one US dollar

 

Parents must be accountants for Career Day

 

Skills that could top up your pocket

 

Working from home...an emerging sector?

 

Property tax relief for pensioners

 

Creditinfo gets green light from BOJ

 

JN Foundation to assist social enterprises

 

Haiti a lucrative market for Ja Broilers

 

Beaches Turks & Caicos: the gift that keeps on giving

 

‘Come and feel the magic’ - Colombia wants Sandals

 

Kremi lists today, says expansion to start in coming weeks

 

Suriname looks into solar energy for remote communities

 

As Jamaican dollar revalues, NIR rises to almost US$1 billion

 

Now Venezuela is running out of toilet paper

 

Moody's lowers Bermuda's rating

 

JNBS to celebrate 25th anniversary in the UK

 

Bill Gates regains top spot

 

2 companies to expand operations in Puerto Rico

 

Direct flight between Puerto Rico, Mexico begins

 

Haitian Compas Festival marks 15 years in Miami

 

Today's Cartoon