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.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.