Solid Start For Caribbean Hotels in 2014

By: Caribbean Journal Staff - February 25, 2014

Above: the Carambola resort in St Croix (CJ Photo)

By the Caribbean Journal staff

The Caribbean hotel industry has gotten off to a solid if not spectacular start in 2014, according to data from hotel analytics firm STR.

The region’s hotels saw occupancy rise to 72.6 percent in January, a 2.8 percent rise over the same month in 2013.

The industry’s average daily rate also rose by 5.6 percent, up to $245.46.

The strongest growth, however, came in revenue per available room, or RevPar, which increased by 8.6 percent to $164.74. That came after a strong month of December in which RevPar grew by 10.4 percent year over year.

The region finished last year with an overall occupancy of 67.1 percent, a 2.1 percent increase over the year 2012.

STR’s data covered 1,888 census properties and 225,409 rooms in the Caribbean region.

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