Caribbean Hotel Occupancy Slides

By the Caribbean Journal staff

Caribbean hotel occupancy declined for the second straight month in May, albeit at slower pace than the previous month, according to new data from hotel analytics firm STR.

Caribbean hotel occupancy was 63.3 percent last month, a 1.9 percent decline from May 2018.

Average daily rates in the region rose, however, with a 6.4 percent jump to $197.24.

Revenue per available room, or RevPar, rose by 4.4 percent to $124.79 in the same period.

For the year, Caribbean hotel occupancy is effectively flat, with a 0.5 percent reduction year over year to 70.2 percent.

Daily rates are up 9.4 percent to $247.60 and RevPar is up 8.9 percent to $173.78.

— CJ