Caribbean hotels report strong RevPAR rebound
The Caribbean hotel industry reported strong revenue-per-available-room increases year-to-date November 2012, according to data from STR. In year-over-year comparisons, the Caribbean rose 11.1 percent in RevPAR to US$113.24, average daily rate was up 3.8 percent to US$170.50 and occupancy increased 7.1 percent to 66.4 percent. Room revenue YTD 2012 rose 9.1 percent to US$8.4 billion.
Demand in the region rose 5.1 percent through November; supply was down 1.9 percent.
According to STR's December 2012 pipeline report, there are 50 hotels with 9,495 rooms in the region's total active pipeline. In 2012, five hotels with 354 rooms opened in the region.
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Rachael Spann Urie
Director, Public Relations
Phone: +1 (615) 824-8664 ext. 3305
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.