The WPJ
Vacation Real Estate News
Caribbean Hotels Enjoy Performance Uptick in 2011
According to STR, the Caribbean hotel market reported increases in all three key performance metrics in 2011.In year-over-year comparisons, the Caribbean rose 2.6 percent in occupancy to 61.8 percent, average daily rate was up 2.6 percent to US$167.54, and revenue per available room increased 5.2 percent to US$103.57. This was the highest year-end occupancy, ADR and RevPAR reported since 2008.
During 2011, three new properties opened in the Caribbean with 421 rooms. Room supply in 2011 increased 0.9 percent and demand in the region in 2011 rose 3.5 percent.
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