October was a particularly slow month for Caribbean hotels, according to the latest hotel report from analytics firm STR.
While October is typically the slowest month of the year for the region, occupancy was lower compared to October 2018.
The region’s occupancy was 50 percent last month, a 5.2 percent decline compared to the same period in 2018.
Average daily rates rose by 0.4 percent to $159.17, while revenues declined by 4.9 percent to 79.54.
For the year, Caribbean hotel occupancy has declined by 3.3 percent, standing at 63.5 percent through the first 10 months of 2019.
Average daily rates in the wider region have risen 6.9 percent to $217, while revenue per available room has increased by 3.3 percent to $137.83 for the year.
STR’s data surveyed 1,938 hotels comprising 254,496 rooms in the Caribbean region.
— CJ