Caribbean Hotel Occupancy Falls For Second Straight Month
By the Caribbean Journal staff
Caribbean hotel occupancy fell by 0.2 percent in July, the region’s second straight month of annual decline, according to a report from STR.
The drop followed a 0.9 percent decrease in June, the first time the Caribbean hotel industry experienced two straight months of year-over-year decline since October and November of 2010.
Occupancy stood at 71.2 percent in July, down from 71.3 percent in July 2012.
There were bright spots, however: average daily rates rose 3.9 percent to $171.08, while RevPAR rose 3.7 percent to $121.75, according to the report.
Total revenue in the industry rose 3.9 percent in July, while demand was flat.
For the year, Caribbean hotel occupancy is up 2.5 percent compared to the first seven months of 2012.
STR’s report covered 1,884 properties and 223,323 hotel rooms in the region.
