HOTEL

CARIBBEAN

OCC | ADR | REVPAR


In March of 2023 the Caribbean had a hotel occupancy of 73,4%. Compared to 2022 (67,5%) this is a significant increase of 8,7%.

*Smith Travel Research (STR) is the leading global provider of competitive benchmarking, information services and research to the hotel industry.

*STR Data is based on a sample of 313 reporting properties and represents 7668 rooms, which is 2,9% of the total rooms in Caribbean market.  

MARCH

AVERAGE HOTEL OCCUPANCY

CARIBBEAN

PERCENTAGE

100
90
80
70
60
%
50
40
30
20
10
0

70

73
2022
2023

The average daily rate also increased with 7,9% compared to 2021, to $271,90. Compared to July of 2019, this is also an increase of 32,3%.

MARCH

AVERAGE DAILY RATE

CARIBBEAN

PERCENTAGE

$300
$90
$80
$70
$$15060
US DOLLARS
$150
$40
$30
$20
$10
$0

252

272
2021
2022

As for the revenue per available room, numbers indicate a significant increase of 28,9% compared to 2021. From $138,82 in 2021 to $178,99 in 2022. Compared to the pre-COVID data, the revenue per available room increased with 34,6%.

JULY

REVENUE PER ROOM AVAILABLE

CARIBBEAN

PERCENTAGE

$300
$90
$80
$70
$60
US DOLLARS
$150
$40
$30
$20
$10
$0

139

179
2021
2022

Provided by STR. For detailed lodging performance data for your area, contact STR at (615) 824-8664 ext 3504 or info@str.com. Independent hotels, Click Here to participate and receive a free benchmarking report for your market.