CJ Invest, Hotels and Development

STR: Caribbean Occupancy Down 48.9 Percent in March

Hotel analytics firm STR has released the latest numbers for the Caribbean hotel industry in March, and they’re about what you would expect. 

Hotel occupancy in the Caribbean declined by 48.9 percent in March to 39.4 percent, while average daily rates declined by 5.1 percent to $261.53. 

Revenue per available room saw a 51.5 percent decline to $100.33. 

STR’s data surveyed 1,991 rooms comprising 1,991 hotel properties in the wider Caribbean region. 

The numbers come as the vast majority of the Caribbean has shut down tourism and locked down locally amid the ongoing coronavirus pandemic. 

Given that some countries did not begin their lockdowns until later in March, it’s like the April numbers will be even more dramatic. 

— CJI

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