A chart in yesterday's newspaper showing the profits and losses of the Island's eight major hotels should have given the losses in thousands of dollars, not millions.

Pay increases granted to workers in the latest hotel contract award are "unfair''' and inflationary, a hotel industry executive charged yesterday.

Hotel Employers of Bermuda executive vice president Mr. John Harvey said the wage increases of 3.2 percent in the first two years of the contract and 3.5 percent in the third were well above the 2.4 percent rate of inflation.

"Clearly their awards were inflationary,'' Mr. Harvey said of the Essential Industries Disputes Settlement Board award. "It is very disappointing.'' Mr. Harvey refused to comment on the fact that hotel employers lost the right to take a percentage of worker's gratuities.

He said the six hotels affected by the award will meet on Wednesday to discuss the award. It has already been accepted by the Bermuda Industrial Union.

The six hotels are the Southampton Princess, Hamilton Princess, Marriott's Castle Harbour Resort, Sonesta Beach Hotel, Belmont Hotel and the Harmony Club.

Smaller properties which refused to take part in the contract hearings before the EIDSB are also due to meet soon to decide whether to abide by the award.