Industry leaders express urgency and action at GHRA tourism recovery forum
“Execute the plan,” is what chairman and CEO of Baldyga Group, Mark S. Baldyga, said during a Q&A panel at the Guam Hotel & Restaurant Association forum when asked what is most important for industry leaders now, after being presented with the tourism recovery plan.
Mark Baldyga, chairman and CEO of Baldyga Group, spoke at a panel at the GHRA tourism recovery forum. Photo by Skyler Obispo.
Industry leaders met at a forum hosted by the Guam Hotel & Restaurant Association on Dec. 16, at the Dusit Beach Resort to discuss Guam's tourism recovery.
Gov. Lourdes A. Leon Guerrero, who delivered the forum’s opening remarks, said that without tourists, destination improvements would mean nothing.
“We can do everything we can, within our means, to improve our destination, to improve our product, to improve the culture, the environment, the traditions, and all of that, but if we don’t have the people here, we might as well give up,” she said.
Gov. Lourdes A. Leon Guerrero gave the opening remarks at the GHRA tourism recovery forum. Photo by Skyler Obispo.
GVB vice chairman of the board of directors Joaquin P.L.G. Cook, presented the plan which included a current analysis of target markets, strategic goals for the industry to reach, and its now $58.5 million-dollar two-year budget.
CEO and administrator of the Guam Economic Development Authority, Melanie Mendiola, also presented services and initiatives for businesses as a part of the recovery effort.
As a part of GEDA’s recovery efforts, it offers the Guam Recovery Loan Plan where up to $1.2 million in funding are available with a discount for tourism-based businesses on the 2% closing costs.
Additionally, GEDA’s Destinu Guahan Venture Capital program will be ramping up in 2025 with two transactions “currently in the pipeline” according to Mendiola. The program requires a 10-year buyout plan for government shares with some preferred industries being tourism, additive manufacturing, and telecommunications.
GEDA’s Hot Bond 2.0 is looking at $60 million to $80 million to be issued in two tranches about one and a half to two years apart with a three-month timeline pending legislative adoption at an indicative rate of 5.7%.
Artemio Hernandez, acting executive manager of the A.B. Won Pat International Airport Authority, Guam, reported that GIAA plans on diversifying revenue in its non-aeronautical revenues such as concessions services and long-term leases for available airport property.
Moreover, the airport will continue to pursue more federal funds for capital improvements at the airport. In the first Q&A panel of the forum, the panelists spoke on the presented tourism recovery plan.
Baldyga said that “speed of action” is important and that the industry would need to enact the plan soon to have a successful second half of 2025.
Managing director of United Airlines, Samuel V. Shinohara, said that effective communication is also needed to see the successful implementation of the recovery plan.
In related tourism news, the Marianas Visitors Authority reported that arrivals to the islands of Saipan, Tinian, and Rota fell to 12,254 for the month of November.
According to a MVA release, arrivals from South Korea continue to make up the majority of arrivals to the Northern Mariana Islands with a weak yen contributing to the lack of visitors from Japan to the NMI and Guam. mbj