Hotel Occupancy, Rates Continue to Decline in the Caribbean

Caribbean hotel occupancy and average daily rates continued their 2019 slide in November, according to the latest data report from analytics firm STR. 

Caribbean regional hotel occupancy stood at 63.4 percent in November, a 2.1 percent compared to the same month in 2018. 

That was accompanied by average daily rates of $177.84, a 1.9 percent decline compared to November 2018. 

Last month marked the eighth consecutive month of year-over-year monthly occupancy declines in the Caribbean. 

For the year, Caribbean hotel occupancy is at 63.7 percent, a 2.9 percent decline compared to the first 11 moths of 2018. 

Average daily rates are up, however, with a 6.1 percent increase for the year to $213.65. 

Revenue per available room is at $132.12 for the year, a 3 percent jump compared to least year. 

STR’s report surveyed 1,973 hotels comprising 258,151 rooms in the wider Caribbean region. 

— CJ