Market Report Caribbean

Caribbean Hotel Industry Reports 1.5% Occupancy Increase for 2014

In year-over-year comparisons, Caribbean hotels during 2014 experienced a 1.5-percent increase in occupancy to 68.0 percent; average daily rate was up 6.4 percent to US$194.66; and revenue per available room rose 8.0 percent to US$132.28.

STR The Caribbean hotel industry reported increases in all three key performance metrics during 2014, according to data from STR, Inc.

In year-over-year comparisons, Caribbean hotels during 2014 experienced a 1.5-percent increase in occupancy to 68.0 percent; average daily rate was up 6.4 percent to US$194.66; and revenue per available room rose 8.0 percent to US$132.28.

During 2014, the region experienced three months of RevPAR increases of more than 10.0 percent: April (+11.7 percent); May (+10.5 percent); and January (+10.4 percent). The Caribbean’s hotels checked in positive ADR and RevPAR results in each month during 2014. The year ended with a bang for the region in terms of occupancy, as it posted its largest increase of the year during December (+5.3 percent).

Meanwhile, demand in the Caribbean increased 2.4 percent; revenue jumped 8.9 percent; and supply grew 0.8 percent.

About the STR family of companies

The STR family of companies, which comprises STR, STR Global, STR Analytics and Hotel News Now, provides the hotel industry with a comprehensive suite of products to fit the industry’s needs. STR and STR Global provide hotel industry performance forecasts, annual profitability, pipeline and census information; STR covers North America data and STR Global focuses on non-North America data. STR Analytics provides products and services to innovate, create and consult using the STR database. Hotel News Now, the family’s media platform, provides vital information to key hotel decision makers who rely on integrity, credibility and experience.



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