Caribbean Hotel Occupancy Keeps Declining
Caribbean hotel occupancy fell in May for the fifth straight month, according to new data from STR, a data and analytics specialist.
The region’s hotel occupancy fell by 3.1 percent in May compared to the same month in 2015.
Average daily rates also fell 3.6 percent to $195.02, with RevPar, or revenue per available room, falling by 6.5 percent to $125.11.
For the year, Caribbean hotel occupancy is down by 3 percent to 71.1 percent, compared to the first five months of 2015.
STR’s data looked at 1,932 hotels in the wider Caribbean region comprising 236,405 rooms.
After a relatively strong year in 2015 that saw a 2.1 percent increase in occupancy for the year, the Caribbean’s hotel sector had not yet reported a month with a positive increase in hotel occupancy.
The region’s hotel occupancy fell by 1.4 percent in January, 3.8 percent in February, 4.5 percent in March, 2.2 percent in April and now 3.1 percent in May.
