Caribbean Hotel Sector Growth Slows
By the Caribbean Journal staff
After three months of year-over-year growth to start the year, the Caribbean hotel sector saw a mixed bag of numbers in April, according to data from STR.
While hotel occupancy stood at 75 percent in April, a 1.3 percent increase over April 2012, average daily rates fell by 1.3 percent to $185.87 and revenue per available room (RevPar) was unchanged from 2012.
Hotel demand rose 1.3 percent over the same period in 2012, according to the report, which surveyed 1,884 hotels and 223,081 rooms in the Caribbean.
For the year, however, Caribbean hotel occupancy is up to 75.7 percent, a 3.4 percent increase over 2012.
ADR is up 7.2 percent and RevPar is up 10.8 percent since January 2013.