How Caribbean Hotels Are Faring in 2014

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By the Caribbean Journal staff

Caribbean hotel occupancy is up just 0.2 percent for the first half of 2014, compared to the first six months of 2013, according to newly released data from STR.

Hotel occupancy in the region stood at 72 percent at the end of June, a 0.2 percent increase over the first half of last year.

That came after a June that saw a regional hotel occupancy of 65.4 percent, a 0.8 percent improvement over the month of June 2013.

For the first half of 2014, the Caribbean’s average daily rate rose by 8 percent to $212.32, while the region’s RevPar, or revenue per available room, rose by 8.2 percent to $152.85.

In June, ADR rose by 4.6 percent to $172.41 while RevPar improved by 5.5 percent, compared to June 2013.

For the first half, the Caribbean’s hotel occupancy experienced year-over-year declines in occupancy in four of six months, while ADR and RevPar saw continuous year-over-year monthly gains in 2014.

STR surveyed 1,891 hotels totaling 225,744 rooms in the Caribbean region.

 

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