It’s been a robust 12 months for Caribbean motels, with resort occupancy climbing each month from January to June. Unsurprisingly, in July, that modified, the direct results of the passage of Hurricane Beryl.
Certainly, July noticed a 1.9 p.c discount in resort occupancy in comparison with July 2023, however common each day charges and revenues per room really improved, rising by 3.2 p.c and 1.2 p.c, respectively.
For the 12 months, occupancy continues to be up 3.1 p.c, standing at 70.8 p.c Caribbean-wide, with charges up 7.8 p.c to $374.12 and revenues per room up 11.1 p.c to $265.01.
Current information from analytics agency ForwardKeys confirmed that many of the locations hit arduous by Hurricane Beryl rebounded rapidly from the storm, and it’s doubtless that the pattern ought to proceed in August.
STR’s information survey 2,117 motels comprising nearly 284,000 rooms throughout the broader Caribbean area.
CJ Knowledgeable Take: The Caribbean has vastly improved its place as a year-round vacation spot, largely attributable to journey business shifts ensuing from the pandemic. Given the upheaval attributable to Beryl, an only one.9 p.c lower in occupancy is a really constructive signal.
