Caribbean Hotel Occupancy Experiences Steep Decline

The Caribbean is experiencing its largest decline in hotel occupancy yet with a drop to just over 10 percent.

According to STR, which is tracking the effects of the coronavirus outbreak, preliminary data shows that, for the week of March 22-28, 2020, occupancy was down 85.9 percent to 10.6 percent.

The average daily rate declined nearly 22 percent to $231.60, and RevPAR was $24.44.

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STR found that the Bahamas saw the steepest year-over-year decline in RevPAR, which dropped 95.2 percent to $12.99. This was because the country experienced the lowest occupancy rates in the region, 7.3 percent, which is down 90.8 percent. The Bahamas also experienced the steepest drop in ADR, down 47.8 percent to $177.39.

Puerto Rico experienced the second-greatest decline in RevPAR, which dropped 92 percent to $13.69, which was the result of a massive decrease in occupancy to 8.7 percent.

The Dominican Republic was one of just a few regions that remained in double-digit territory when it came to occupancy, reporting 13.3 percent. ADR stood at $96.97 for the country. It had the region’s lowest absolute RevPAR, down 88 percent to $12.87.

Barbados was the only brighter spot, with just a mild decline in ADR, down 18.6 percent to $250.73.