In particular, the company indicated in its recent Annual Report to shareholders, that there was little improvement in the state of the land based/stay over segment of the local tourism industry during the year.
One of its flag ships in the hospitality sector is the Ocean Terrace Inn, OTI, and the Directors have reported that the hotel was able to reduce its losses by 15%, mainly through the reduction of operating expenses. It is the view of the Board of Directors that significant investment will be required to maintain and upgrade the hotel plant, if the company is to continue to attract, and satisfy guests.
They said that this, and other options are currently under consideration, as they deliberate on the future of this perennial loss maker.
In the airline sector of its operations, TDC Airline Services is also reported to have made a loss for the year, 2010, despite the addition of another weekly flight by British Airways. The company sites, as the cause for the poor performance, “General weakness in the corporate aircraft sector and the severing of our relationship with United Parcel Service, (UPS).” These said TDC, resulted in a significant reduction in revenue.
There was comforting news for the company though, when it came to the aircraft handling division of TDC Airlines, which saw an improvement in its performance, though marginally. What helped to contribute to this were the re-introduction of service into Nevis by American Eagle after and the re-opening of the Four Seasons.
TDC Tours Ltd. increased its business with several cruise lines during 2010. They also said the resumption of providing ground transportation for guests of the Four Season helped to account for the increase in business for this division.