By the Caribbean Journal staff
Caribbean hotel occupancy continued to decline in August, according to the newest data report from hotel analytics firm STR.
The region’s hotel occupancy was 62.5 percent in August, a 5.6 percent decline compared to the same month in 2018.
August was the fifth consecutive month of year-over-year hotel occupancy declines, according to the report.
Average daily rates rose slightly in the period, with a 0.3 percent increase to $180.06, while revenue per available room declined by 5.3 percent to $112.54.
For the year, Caribbean hotel occupancy has seen a 2.6 percent decline to 67.5 percent.
Year-to-date average daily rates are up 7.8 percent to $228.54, while revenues are up 4.9 percent to $154.33.
STR surveyed 1,955 hotel properties comprising 255,708 hotel rooms in the wider Caribbean region.
– CJ