Consolidated Water Sees Return of Tourism in the Cayman Islands as COVID-19 Travel Restrictions Ease

GEORGE TOWN, Cayman Islands (GLOBE NEWSWIRE) — Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading developer and operator of advanced water supply and treatment plants, has noted a recent increase in water demand in the Cayman Islands as the country’s Phase 5 reopening plan continues.

The company operates seven seawater desalination plants that produce all the piped drinking water on Grand Cayman, which is home to about 95% of the nation’s population.

“The easing of COVID-19 restrictions and the return of tourism to the Cayman Islands is very encouraging to see after many months of lockdowns and travel bans,” stated Rick McTaggart, CEO of Consolidated Water. “The removal of certain restrictions sets the stage for our retail water sales to return to normal levels in the coming months as hotels, restaurants and other tourism-based businesses begin servicing vacationers. In particular, we were very happy to see that the government raised the limits on gatherings which facilitates the return of conferences and conventions to the Islands.”

On February 18, the Cayman Islands government dropped all on-island COVID testing for vaccinated travelers, citing a decline in local infection cases. The Islands also no longer require post-arrival COVID-19 tests for fully vaccinated travelers, and has reduced the quarantine period for partially vaccinated and unvaccinated individuals from 10 to seven days.

Major airlines, including American Airlines and United Airlines, resumed their flight routes to Cayman earlier this month. Tourism minister, Kenneth Bryan, said that next month Delta and Southwest will also resume their flights, and Cayman Airways will resume its service to Denver, Colorado.

Marc Langevin, president of the Cayman Islands Tourism Association, reported in a recent interview that many of the major hotels on Grand Cayman, including The Ritz-Carlton, Kimpton Seafire Resort, Marriott and Westin, are already more than 50% booked for the upcoming winter holiday season.

Langevin predicts that by this summer, Cayman hotels will reach 80% of pre-pandemic occupancy levels and every hotel will be full come December.