Caribbean Hotels Occupancy Continues Decline
Caribbean hotel occupancy fell year-over-year last month for the 10th month in a row, according to hotel analytics firm STR.
The region’s occupancy was 66 percent in August, down 2.4 percent from August 2015, although the 2.4 percent drop was less than the 6.1 percent and 5.5 percent drops the region showed in June and July, respectively.
Average daily rates were down 10.8 percent in August, while RevPar, or revenue per available room, fell 12.9 percent last month.
For the year, hotel occupancy stood at 69.7 percent in August, down 3.6 percent from the first eight months of 2015, while ADR was down 3.4 percent to $228.03 and RevPar was down 6.9 percent to $158.88.
STR’s data surveyed 1,916 properties comprising 239,232 rooms in the wider region.
— Caribbean Journal Staff
