WEBVTT - Bermuda Tourism's Hanbury on Boon of America's Cup 2017 (Audio)

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<v Speaker 1>stocks extended losses. The dollar climbed after the biggest gain

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<v Speaker 1>in US retail sales in a year, reignited speculation the

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<v Speaker 1>Fed mayliff rates as early as June. The SMP five

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<v Speaker 1>hundred index down seventeen points today, dropping nine tenths of

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<v Speaker 1>one percent. Nav Stacktown nineteen, a decline there of point

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<v Speaker 1>four percent down, Industrials down a hundred eighty five points,

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<v Speaker 1>the drop of one percent, Gold up three fifty the

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<v Speaker 1>ounce to twelve seventy four, a gain of three tenths

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<v Speaker 1>of one percent. Crew down thirty seven cents of barrel

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<v Speaker 1>forty thirty three, a drop of eight tenths of one

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<v Speaker 1>percent I'm Charlie Pelton. That's a bloom bird business flashy. Well,

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<v Speaker 1>that seems appropriate to play as we are broadcasting live

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<v Speaker 1>from Elbow Beach, Bermuda, ocean front enclave of classic style

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<v Speaker 1>and contemporary luxury. And for all those who had to

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<v Speaker 1>go through today's market action with the SMP five hundred

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<v Speaker 1>down that a tens of a percent. Let's see if

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<v Speaker 1>we can sheer people up a little bit. And we've

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<v Speaker 1>got just a person to do that. Bill Hanbury is

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<v Speaker 1>the chief executive of the Bermuda Tourism Authority and he

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<v Speaker 1>joins us now, thank you very much for being with us.

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<v Speaker 1>Him good to be with you. Thanks. That has got

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<v Speaker 1>to be a dream job. It's it's a great job

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<v Speaker 1>to Bermuda is a great destination to be representing and

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<v Speaker 1>a wonderful place to live. My wife and I are

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<v Speaker 1>Americans who had the great opportunity to come here three

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<v Speaker 1>years ago and we've enjoyed every single minute of it.

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<v Speaker 1>And we actually uh get a chance to walk on

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<v Speaker 1>this beach on a regular basis, so we uh it's

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<v Speaker 1>a life is good in Bermuda. I have to say

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<v Speaker 1>it's my first visit to Bermuda and I'm I was

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<v Speaker 1>really surprised. I mean, I just didn't realize how there's

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<v Speaker 1>just something so beautiful about it and the people. There's

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<v Speaker 1>just a culture. There's something about the spirit here that

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<v Speaker 1>is very gracious, very welcoming that I didn't anticipate. It's

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<v Speaker 1>a it's a first it's a first tier country with

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<v Speaker 1>the with some island soul and uh. It is truly

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<v Speaker 1>one of the pre eminent destinations in the world. It

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<v Speaker 1>was for many, many years. So back in the fifties, sixties,

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<v Speaker 1>and seventies, if you are looking for the premiere luxury destination,

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<v Speaker 1>Bermuda was on that list. Kind of lost our focus

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<v Speaker 1>a little bit through the eighties and nineties as international

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<v Speaker 1>business um urged as a kind of a key part

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<v Speaker 1>of the economy. And I'm sure you've probably heard that

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<v Speaker 1>from the premiere when you talk today. But the reality

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<v Speaker 1>is tourism product is still spectacular, and we're now trying

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<v Speaker 1>to balance international business with a more astute understanding of

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<v Speaker 1>our tourism product. Tell us about what you're trying to accomplish.

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<v Speaker 1>What would you like to see Bermuda look like, let's

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<v Speaker 1>say in five to ten years. Well, we still wanted

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<v Speaker 1>him to be the same place it is today. Extraordinary

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<v Speaker 1>sense of service and quality, first tire, safe, secure, a

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<v Speaker 1>place where you can relax but also connect to an

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<v Speaker 1>island vibe that is really kind of unique to Permuta.

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<v Speaker 1>So we're going in that direction. Um. There will be

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<v Speaker 1>significant new development in the next five years in Bermuda

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<v Speaker 1>with new hotel capacity, renovations at hotels. If you take

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<v Speaker 1>a look at the just the energy that exists here

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<v Speaker 1>at Elbow Beach today, UM, this this property is on

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<v Speaker 1>the on the upswing in a big way, as is

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<v Speaker 1>the Bermuda product. And so uh, we're trying to be

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<v Speaker 1>more competitive and more adaptable to uh what is a

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<v Speaker 1>very very competitive environment that we live in. But we

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<v Speaker 1>think we've got the right product to to compete well.

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<v Speaker 1>And there's a lot of competition the the Caribbean, many

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<v Speaker 1>island nations there these you know, the the um Minan

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<v Speaker 1>coast of of Mexico, the Mind Review as they call it, right,

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<v Speaker 1>all these have been coming up rapidly Bermuda. Now you're here.

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<v Speaker 1>We had earlier talk also to um uh ed heard

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<v Speaker 1>a bird's excuse me, who's the running able beach? Now

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<v Speaker 1>he's been here just two or three years, so a

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<v Speaker 1>lot of a lot of focus. Now government's spending more

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<v Speaker 1>money on this obviously. Yeah. So one of the things

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<v Speaker 1>that happened in two thousand and eight two thousand nine

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<v Speaker 1>is the rest of the arrest of the global economy

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<v Speaker 1>created um Bermuda also had a big shock in international business,

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<v Speaker 1>and I think there was a realization at that time

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<v Speaker 1>that we needed the better balance the country's economy and

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<v Speaker 1>begin to refocus on tourism. And we've been passed by

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<v Speaker 1>by the dubrod Nicks, the Dubai's, the Abu Dhabi's twenty

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<v Speaker 1>years ago, those were not destinations that people were going

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<v Speaker 1>to and um today, Uh, those are dynamic, energized destinations

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<v Speaker 1>and we needed to get up and punch in the

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<v Speaker 1>big leagues against So the country's expending more more financial resources.

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<v Speaker 1>We've sought a higher level of professionalism within the tourism

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<v Speaker 1>authority and within government to deal on this global scale,

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<v Speaker 1>and we're making very significant progress. Certainly, America's Cup was

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<v Speaker 1>one of those defining moments where that was not lightly

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<v Speaker 1>thought about. It was a premeditated, very thoughtful approach to

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<v Speaker 1>go chase America's Cup because year next year in it

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<v Speaker 1>goes to our nautical and marine legacy in a huge way.

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<v Speaker 1>We don't have to fabricate it, we don't have to

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<v Speaker 1>fake it. We're we're really one of the pre eminent

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<v Speaker 1>sailing destinations in the world. And I think, uh, certainly

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<v Speaker 1>America's couple reinforced it. How about the air links to

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<v Speaker 1>North America and other regions around the world to bring tourists. Yeah,

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<v Speaker 1>it's a it's a great question and and it's uh,

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<v Speaker 1>it's something that sometimes people don't realize where we are geographically.

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<v Speaker 1>Wheels up, wheels down, ninety minutes from JFK, ninety minutes

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<v Speaker 1>from Boston, uh, an hour and forty minutes from Philadelphia,

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<v Speaker 1>two hours from from Atlanta and Miami. So we are, uh,

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<v Speaker 1>we're much more accessible in many respects, at least from

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<v Speaker 1>the East coast in Canada than the Caribbean would be.

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<v Speaker 1>And um, we just need to tell people that we

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<v Speaker 1>need to get that message out. And you know, of

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<v Speaker 1>all of our visitors are coming from the northeastern part

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<v Speaker 1>of the United States, and the more we message into

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<v Speaker 1>the Boston, the Philadelphia, that particularly the metro New York markets,

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<v Speaker 1>the better off we are. And and that capacity, that

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<v Speaker 1>airline capacity is very very important to us to make

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<v Speaker 1>sure that we have the lift necessary to to move

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<v Speaker 1>those new visitors to Bermuda. Well, Bill Hambury, we thank

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<v Speaker 1>you so very much for joining us, and of course

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<v Speaker 1>you crisis management nonprofit CEO, you helped do so much

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<v Speaker 1>in Washington. You see when you were there and you

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<v Speaker 1>got your Master's of Public Administration from the Kennedy School

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<v Speaker 1>of Government at Harvard. That was a few years ago. Congratulations.

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<v Speaker 1>All right, Well Blo Hambury, thank you. He's the CEO

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<v Speaker 1>of the ber Munit Tourism Authority. We want to thank

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<v Speaker 1>everybody who has been so wonderful to us while we've

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<v Speaker 1>been broadcasting live from Elbow Beach, Bermuny, Bermuda. It's an

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<v Speaker 1>ocean front enclave of classic style contemporary luxury. We want

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<v Speaker 1>to thank our technical director Charlie Bohmer, our producers Sam Linga,

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<v Speaker 1>Reggie Brazils in New York. I'm copying Hason with Pim

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<v Speaker 1>Fox on Blue Big Radio. Coming up, Bloomberg Laws brought

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