I think the World Cup will have a particularly West Indian favour and I think it will be great fun Malcolm Speed

Most hotel beds in the Caribbean are at the top of the range and the length of the tournament is another factor.

Speed told Test Match Special: "The five-star hotels are very expensive.

"I hope when I go back there in August to the quarterly board meeting of the Cricket World Cup organising committee that we'll have some good news."

Speed said the cost for media personnel was of particular concern - they have to spend about 50 nights in the Caribbean to cover the whole event.

He said: "At my first ICC meeting in 1997, the ICC members granted the World Cup to West Indies.

"I remember thinking at the time, That's a very brave decision I'll watch with interest the World Cup in 2007, without realising I would be chief executive at that time."

The Australian went on: "There are nine islands involved, so nine grounds and 20 practice venues are being built for major matches.

"They are all being funded by the various governments of the West Indies so they're all right behind it.

"I think it will have a particularly West Indian favour and I think it will be great fun."

But he said there remained other "areas of concern".

"We have to get through another hurricane season over the next three or four months - some of the grounds have had problems with hurricanes."

Speed said that choosing to schedule the event in March and April coincided with peak holiday season - thus hugher prices.