Curaçao February hotel performance analysis
WILLEMSTAD - The following are the preliminary February hotel performance data compiled by the Curaçao Hospitality & Tourism Association. The following data is based on 10 properties reporting to STR representing 1446 rooms.
What happened in February 2018?
•Occupancy increased by 1.3% compared to February 2017.
•Average Daily Rates (ADR) increased by 19.8% compared to 2017.
•Revenue Per Available Room (RevPAR) increased by 21.3% compared to 2017.
What are the CHATA hotels seeing compared to February 2018?
•5STR reporting properties reported an increase in occupancy. Properties not reporting to STR: 2propertiesreportedanincreasein occupancy compared to last year, while 1 reported a decrease.
•4STR reporting properties reported an increase in ADR, while1reported a decrease. Properties not reporting to STR: 2propertiesreported an increase in ADR, while 1 reported a decrease.
•4STR reporting properties reported an increase in RevPAR while 1 reported a decrease. Properties not reporting to STR: 2propertiesreported an increase.
What happened in the Caribbean?
Despite Hurricanes and Zika, the Caribbean holds a positive outlook for 2018. Several countries are already experiencing higher ADR’s and high season is in the books which are good for recovery. Occupancy and ADR for existing hotels are likely to increase moderately in 2018 despite projected overall flat demand, due to a significant reduction in available rooms in the northeastern Caribbean through the peak of tourist season 2018 due to hurricane damage. It is estimated approximately 4,000 -5,000 rooms that were previously open will be closed throughout the primary tourist season of 2018 (at least through April) because of hurricane damage. Despite these challenges, the CTO is projecting 2% -3% growth in arrivals for 2018