Caribbean Hotel Occupancy Shows Decline
By the Caribbean Journal staff
It was a sluggish month for Caribbean hotels in July, according to the latest report from hotel analytics firm STR.
The region’s hotel occupancy declined by 3.8 percent year over year to 69 percent, the largest single-month decline for the Caribbean all year. In fact, Caribbean hotel occupancy has declined in five of seven months so far this year.
Average daily rates rose, however, jumping 3.4 percent, though revenue per available room (RevPar) fell by 0.5 percent.
For the year, Caribbean hotel occupancy is at 69.7 percent, down 1.4 percent from the same period in 2017, while average daily rates are up 1 percent to $217.99 and RevPar is down 0.4 percent to $135.48.
STR’s data surveyed 1,967 hotels comprising 252,256 rooms in the wider Caribbean region.
— CJ
