Caribbean Hotel Industry Has Best Year Since 2008: Report
Above: the Viceroy Anguilla
By the Caribbean Journal staff
The Caribbean’s hotel industry reported improvements in three key metrics in 2011, according to data from STR.
Hotel occupancy in the region rose by 2.6 percent to 61.8 percent, the average daily rate jumped 2.6 percent to $167.54 and the revenue available per room rose 5.2 percent to $103.57.
The metrics were the highest year-end occupancy, ADR and RevPAR reported since 2008.
A total of three new properties opened in the region in 2011, with a total of 421 new rooms.
Room supply rose 0.9 percent, and demand jumped by 3.5 percent.