Hotel sector continues to strengthen
By Alexander Britell
The Caribbean hotel sector continues to show strength, according to the newest report from STR Inc.
The region’s hotel occupancy rose to 69.8 percent in June, up 2.6 percent from the same month in 2014.
It was also the 14th straight month in which the Caribbean’s hotel occupancy showed positive year-over-year growth, a trend that began in May 2014.
Average daily rates also rose in June, improving by 4.3 percent to $198.65, while Revenue per available room (RevPAR) rose 7 percent to $138.70.
For the year, hotel occupancy is at 73.4 percent, up 3.2 percent from the first half of 2014.
STR data surveys 1,922 hotels comprising 229,930 rooms in the wider Caribbean region.
— CJ