New data from analytics firm STR are showing that Caribbean hotel occupancy continues to improve even with changing travel fundamentals globally.

The data illuminate the extent at which regional hotels are performing well, particularly in what has been very strong industry performance in the Caribbean in 2023. Hotel occupancy in the Caribbean was up 70.2 per cent in July, representing a 6.4 per cent increase over the same period in 2022. 

Average daily rates were up by 12.7 per cent in July to US$317.30, while revenue per available room shot up by 19.9 per cent to US$222.74. For the year, hotel occupancy in the Caribbean based on STR data is up by 11.3 per cent to 69.5 per cent. 

Average daily rates are up by 14.1 per cent to US$347.63, while RevPar is up by 27 per cent to US$241.55. 

STR’s data surveyed 2,075 hotels comprising 274.492 rooms in the wider region.