Caribbean Hotel Industry Just Set New Records: Report

The Caribbean hotel industry reached its highest levels ever in average daily rate (ADR) and revenue per available room (RevPAR), according to 2019 data from STR.  

For the year, the region posted a year-over-year ADR increase of 5.6 percent to US$218.82 and a RevPAR jump of 2.8 percent to US$139.45. Those absolute levels in the metrics were the highest on record for any year in STR’s Caribbean database. Occupancy, however, fell 2.7 percent to 63.7%. 

Continued supply growth coupled with muted demand put pressure on occupancy levels. Despite those factors, hoteliers have been able to maintain rates, mostly due to the premium they obtain thanks to new or recently renovated rooms and resorts. 

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