The Cayman Turtle Centre said it expects to extinguish all of its remaining long-term debt, about $10.9 million by 2019.
Managing director Tim Adam told Cayman 27 the attraction was cash flow positive in 2016 for the first time in many years.
He said in the five-year period from 2011 to 2016, the Turtle Centre has extinguished $20 million in debt, which he says should impact the Turtle Centre’s future subsidies.
“2019 is when we expect to extinguish the long term, and then after that, the subsidy will be then, whatever is then required to make up whatever shortfall may remain between revenue and expenses,” explained Mr. Adam. “But we are working to bring that down as well.”
He said the Turtle Centre still faces challenges on costs versus revenue, but says the attraction, which welcomes around 200,000 visitors a year, is making strides.