Caribbean Hotels Pick Up Momentum
The Caribbean hotel industry seems to be picking up momentum, according to the latest data from hotel analytics firm STR.
Caribbean hotel occupancy was 66.7 percent in the month of June, a 3.1 percent increase over July 2016 that was the highest year-over-year improvement in occupancy in the Caribbean since September 2016.
Average daily rates grew by 2.9 percent to $184.86 in the period, while revenue per available room rose 6.1 percent to $123.28.
For the year, Caribbean hotel occupancy is at 70.8 percent, up 0.3 percent compared to the first half of 2016, while average daily rates are at $221.38, a 0.2 percent increase.
RevPar is up 0.6 percent to $156.74 for the year.
STR’s data surveyed 1,936 hotels comprising 244,503 rooms in the wider Caribbean region.
– Caribbean Journal staff