Caribbean Hotel Occupancy Continues to Rebound
By the Caribbean Journal staff
Caribbean hotels continued their strong third quarter with another increase in occupancy last month, according to the latest data report from analytics specialist STR.
The region’s hotel occupancy was 66.7 percent in August, a 1.8 percent year-over-year increase over August 2016.
It was the fifth straight month of positive year-over-year growth in hotel occupancy for the Caribbean, a very strong sign after a 2016 that saw declines in 11 out of 12 months.
Average daily rates rose by 6.6 percent to $182.89, while revenue per available room rose by 8.6 percent to $121.94.
For the year, hotel occupancy is up 0.7 percent to 70.4 percent, while average daily rates at $212.97 and revenue per available room up to $121.94.
STR surveyed 1,993 hotels comprising 253.118 rooms in the wider Caribbean region.