How Caribbean Hotels Fared in 2015
How did the Caribbean hotel sector fare last year?
Hotel analytics firm STR has released its final numbers for 2015, and the results were, well, mixed.
Hotel occupancy growth slowed in 2015, with 1.4 percent growth to 68.8 for the calendar year (occupancy had grown by 2.3 percent in 2014).
Growth in average daily rates and RevPar were strong but also slower than the previous year.
Average daily rates for the region finished 2015 up 4.6 percent to $229.44, while RevPar grew by 6 percent to $157.74. (Daily rates and RevPar had grown by 7.4 percent and 9.8 percent, respectively, in 2014).
For the month of December, occupancy fell by 1 percent year over year, while daily rates rose 5 percent to $304.34 and RevPar rose 3.9 percent to $206.31.
STR’s data covered 1,923 hotels comprising 230,831 rooms in the greater Caribbean region.