Caribbean Hotel Occupancy, Revenue Show Improvement: Report

Above: Sandy Lane in Barbados

By the Caribbean Journal staff

Caribbean hotel occupancy rose 11 percent in October compared to the same period in 2011, according to a report from STR.

Occupancy stood at 54.8 percent in the region in October, an increase from the previous month’s rate of 50.8 percent.

RevPar, or revenue per available room, rose 16.9 percent to $74.93 in October. The ADR, or Average Daily Rate, rose to $136.72, a 5.4 percent increase over October 2011.

For the year to date, Caribbean hotel occupancy is up 7.1 percent compared to the first 10 months of 2011, with ADR up 3.9 percent and RevPar up 11.3 percent.