Caribbean Hotel Occupancy, Revenues Show Improvement

Above: Jade Mountain in St Lucia

By the Caribbean Journal staff

Caribbean hotel occupancy rose 4.7 percent to 78.7 percent in February compared to the same period in 2012, according to data from STR released this week.

The region’s hotels also saw a 6.7 percent increase in average daily rate to $220.40, along with an 11.7 percent increase in revenue per available room to $173.47.

Average daily rate is calculated by dividing room revenue by rooms sold. Revenue per available room, or RevPAR, is room revenue divided by rooms available.

STR’s data covered Caribbean hotels through the end of February.