caribbean hotels performance
Caribbean Travel & Tourism Sector Recovering Faster Than Any Other Region in the World
WTTC | October 20, 2021
International spending growth to outpace domestic With the right measures, Travel & Tourism jobs could surpass 2019 levels next year London, UK – October 20, 2021 – The Caribbean’s Travel & Tourism sector is recovering at a faster rate than any other region in the world, with its contribution to GDP expected to rise more than 47% this year, compared to just 30.7% globally, reveals new research from the World Travel & Tourism Council (WTTC). WTTC, which represents the global Travel & Tourism private sector, says that the recovery of the sector globally has been hindered by the lack of international coordination, seve...
Caribbean Hotel Update: Two Markets Showing High Levels of Occupancy Recovery
STR | October 5, 2021
The summer travel season, helped by growing vaccination rates around the world, allowed Caribbean hotels to pick up steam in their road to recovery. Regardless of world region, the markets that truly stand out are those with favorable comparisons to 2019—the last “normal year” prior to the pandemic. In the Caribbean, we have been comparing 2021 vs. 2019 data for year-to-date periods to remove the effects of seasonality, which are usually substantial in the region. As of August, we saw two of 14 markets with hotel occupancy near or above the 2019 comparable. The only Caribbean market to achieve an August year-to-date occupancy leve...
STR: Preliminary Caribbean Hotel Results for Week Ending 28 March
STR | April 2, 2020
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for the Caribbean based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different. The Caribbean hotel industry experienced its steepest year-over-year declines yet in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR. In comparison with the week of 24-30 March 2019, the Caribbean reported the following: Occupancy: -85.9% to 10.6% Average...
Caribbean Hotel Profits Continue to Grow; Cuba and Zika Impact Performance
CBRE Group, Inc. | September 13, 2016
September 13, 2016, Atlanta, Ga. – CBRE Hotels Americas Research announced that the average Caribbean hotel experienced a 10.2 percent increase in gross operating profit (GOP) during 2015, according to its newly released tenth edition of Caribbean Trends® in the Hotel Industry. This is the fourth consecutive year that Caribbean hotels have seen a double-digit increase in GOP. Over the course of 2015, the Caribbean hotel and tourism industries saw growth in all major metrics except occupancy. Hotels in the Caribbean experienced growth in ADR, RevPAR, total operating revenue and profits in 2015 even in the face of declining occu...
