Caribbean Hotel Industry a “Comeback Kid”

STR | February 6, 2023

Led by a robust leisure market, the Caribbean experienced strong hotel performance in 2022 as almost all travel restrictions were lifted after being a large hindrance for some countries throughout 2021. Full-year occupancy came in at 60.7%, which was up 36.7% year over year, and down just slightly from 2019 (-3.2%). The region’s lowest occupancy occurred in September (48.9%)—a typical calendar occurrence in the midst of Hurricane season—but peaked recently in December (66.1%) because of holiday travel. Among key countries in the region, Curacao (70.7%), Turks & Caicos (70.3%), and Puerto Rico (69%) ...