Caribbean occupancy up for the fourth month in a row

The Caribbean hotel sector is showing improvement in occupancy for the fourth straight month.

In August, the region's hotel occupancy was 67.1 percent, up 1.9 percent over the same period in 2014. This was the fourth consecutive month in which the region saw year-over-year growth. For the year, hotel occupancy in the Caribbean stood at 71.2 percent at the end of August, up 0.5 percent compared to the first eight months of 2013.

The region saw improvement across the board in August, with a 4.8 percent rise in average daily rate to $166.44 and a 6.8 percent improvement in revenue per available room (RevPar), to $111.71. The report from STR surveyed 1,891 hotels and 225,124 rooms in the Caribbean region.

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