Caribbean Hotel Occupancy Rises For Fourth Straight Month

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By the Caribbean Journal staff

After a weak winter and early spring, the Caribbean hotel sector is showing improvement, according to new data from hotel analytics firm STR.

The region’s hotel occupancy was 67.1 percent in August, a 1.9 percent improvement over the same month in 2014. That was the fourth consecutive month in which the region saw year-over-year growth.

For the year, hotel occupancy in the Caribbean stood at 71.2 percent at the end of August, up 0.5 percent compared to the first eight months of 2013.

The region saw improvement across the board in August, with a 4.8 percent rise in average daily rate to $166.44 and a 6.8 percent improvement in revenue per available room (RevPar), to $111.71.

STR’s report surveyed 1,891 hotels and 225,124 rooms in the Caribbean region.

 

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