Part 4 – Villa Rentals Lag Behind in the Recovery
In 2017, hurricanes Irma and Maria dealt a crushing blow to the villa rental business the BVI. Damage ranged from some villas escaping with just needing minor repairs to many with significant damage such as roofs being blown off to those that were in the path of tornados that the hurricane spawned and were completely destroyed.
To give some perspective on the impact the hurricanes had on the villa rental sector, Lucienne Smith of Smiths Gore, which offers luxury villa rentals in the BVI, was interviewed for an article in the Guardian Magazine. According to the article, Smith estimated that, as of late 2017, around 20% of such villas were available for rent. In addition she stated that due to the lack of available accommodations, “Many [villa guests] have chosen to support the BVI by having this year’s holiday on a charter yacht with the hope of coming back to a land-based holiday next year.”
Fortunately, since the end of 2017, the BVI has made significant progress in repairing and reopening villas for vacation rentals. According to BVI Traveller’s database of BVI Rental Villas, as of July, 2018 approximately 101 villas are open for business and while 109 remain closed. So in 6 months they have moved the needle from roughly 20% capacity to 48% of their pre-Irma capacity – nothing short of a herculean feat! The bad news is that while many of . . .
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