caribbean hotel records
News

Supply Growth Pressures Caribbean Hotel Occupancy

By: Caribbean Journal Staff - July 11, 2019

By Rico Louw
CJ Contributor

May marked the Caribbean’s second-straight month with a decline in hotel occupancy levels, and growth in new inventory was the main reason why.

However, hotelier pricing confidence has kept overall performance in positive territory.

In year-over-year comparisons with May 2018, occupancy dropped 1.9% due to supply (+3.5%) outpacing demand (+1.6%). Fortunately, average daily rate (ADR) rose 6.4%, pushing revenue per available room (RevPAR) up 4.4%.

ADR and RevPAR have now grown for seven straight months in the region. STR’s 2019 forecast for the region predicts a slight decrease in occupancy (-0.8%) but a 1.1% increase in ADR and a 0.3% lift in RevPAR.

In the destinations where STR maintains a sufficient reporting sample, the Bahamas experienced the highest rise in occupancy (+19.2%). Dominica posted the largest lifts in ADR (+31.6%) and RevPAR (+48.2%).

Puerto Rico saw the steepest decline in occupancy (-14.3%), which led to a double-digit drop in RevPAR (-15.2%). ADR in the destination fell 1.1%.

Year to date through May 2019, Puerto Rico has seen declines in occupancy and RevPAR, -10.0% and -2.0%, respectively, but an 8.9% increase in ADR.

There are currently 49 hotels accounting for 12,039 rooms in construction in the Caribbean.

Additional questions regarding hotel data reporting in the Caribbean can be directed Rico Louw at rlouw@str.com.


Popular Posts w punta cana

A New All-Inclusive W Hotel Is Opening This Year in Punta Cana 

The first-ever all-inclusive W Hotel in the Caribbean is opening this year in Punta Cana, Dominican Republic, Caribbean Journal has learned.  The hotel, part of a broad expansion for parent company Marriott International, is on the list of expected 2024 […]


Why Grenada Is a New Caribbean Luxury Hotspot

beach house silversands

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


Related Posts nobu los cabos

Frontier Is Adding a New Nonstop Flight to Los Cabos 

It’s one of the most popular hotel destinations in Mexico: Los Cabos, which has seen a broad boom in recent years with the entry to market of brands like Nobu, Thompson, Marriott and Waldorf Astoria, among others.  That has led, […]


This Former Caribbean Rockefeller Resort Is for Sale

caribbean rockefeller resort

In 1986, Laurance Rockefeller, the founder of Rock Resorts, developed 27 acres of prime beachfront land into what was for decades one of the sought after places to stay in the Caribbean. Now, the four-star, 150-room resort is for sale, […]


Vote for the 2024 Caribbean Green Awards, from Green Energy to Sustainable Hotels

caribbean green

Hotels serving organic food grown by local farmers. Airports powered by large solar fields. Pristine coastlines protected by marine parks. Real estate developments fueled by clean energy. It’s an exciting time for the Green movement in the Caribbean, a region […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You