Caribbean Hotel Occupancy Continues to Decline

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Above: the Playa Grande Beach Club

Caribbean hotels are off to a very slow start so far in 2016, according to new data from hotel analytics firm STR.

The region’s hotels reported occupancy of 74 percent in March, down 4.5 percent compared to March 2015.

It was the largest single-month decline in the Caribbean since April 2013.

That followed a similarly sluggish showing in February, when Caribbean hotel occupancy fell by 3.9 percent year over year to 75.6 percent.

For the year, hotel occupancy in the Caribbean stood at 73.1 percent through March, down 3.3 percent from the first quarter of 2015.

While average daily rates rose by 1.8 percent to $293.51 percent last month, the region’s hotels saw a 2.8 percent decline in revenue per available room to $217.32.

STR’s data surveyed 1,940 hotels comprising 236,806 rooms in the Caribbean.

 

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