The Caribbean’s hotel sector is off to a strong start so far in 2024, according to new data provided to Caribbean Journal by hotel analytics firm STR.
The region’s hotel occupancy as 70.6 percent last month, representing a 3.6 percent increase over the first month of 2023.
Average daily rates posted a 7.6 percent increase, rising to $392.09 in January, while revenue per available room jumped by 11.5 percent to $276.97, another strong indicator for the region’s hotels.
It’s part of what hoteliers we spoke to consider a positive beginning for 2024, with travelers still flocking to the Caribbean in large numbers.
STR’s hotel data surveyed 2,094 properties comprising more than 281,000 rooms in the wider Caribbean region.
