Caribbean Occupancy Sees Decline

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By the Caribbean Journal staff

Caribbean hotel occupancy continued its 2018 decline in March, according to the latest data from hotel analytics firm STR.

The region’s hotels reported occupancy of 73.9 percent, a 2.2 percent decline compared to March of 2017.

That came after a 2.5 percent decline in occupancy in February.

The Caribbean’s average daily rate rose, however, with a 2.6 percent increase to $256.67, while revenue per available room rose by 0.3 percent to $189.69, the first uptick in that number so far in 2018.

For the year, regional occupancy is down by 1.8 percent compared to the first quarter of 2017, while average daily rates are flat at $244.96 and RevPar is down by 1.7 percent to $176.16.

STR’s data surveyed 1,955 hotels comprising 250,745 rooms in the wider Caribbean region.