October 24, 2020

Hotel rates set a record in the Caribbean last year, STR says

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By Gay Nagle Myers From Travel Weekly Hotel occupancy levels last year were the lowest in the Caribbean since 2012, but the average daily rate (ADR) was the highest for any year on record, according to data from STR. Occupancy dipped 1.1% last year, to 65.2%, while ADR rose 1.7%, to $207.61. Revenue per available […]

Caribbean hotel numbers flat for 2018’s first six months

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By Gay Nagle Myers From Travel Weekly Hotel performance in the Caribbean through June was relatively flat, due in part to the effects of the 2017 hurricanes and the loss of inventory from properties still closed, according to the Q2 Hospitality Market Update from Integra Realty Resources. The continued expansion of Airbnb and similar alternatives […]

STR: Cayman Islands, Bermuda see occupancy jumps

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By Fatima Thompson From Caribbean Journal HENDERSONVILLE, Tennessee—A mixture of lower occupancy levels and higher rates fell in line with year-to-date hotel performance in the Caribbean, according to the latest data from STR. In November, occupancy fell 2.8% year over year to an absolute level of 64.4%. However, 3.3% growth in average daily rate (ADR) […]

Caribbean hoteliers predict positive tourism performance for 2017

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Press Release:– THE BAHAMAS (February 8, 2017) – Caribbean tourism fared well in 2016 and industry stakeholders are generally upbeat about the year ahead, despite the fact that many hoteliers were forced to adjust their high performance expectations for 2016 as the year progressed due to unforeseen events. Announcing the results of the second annual […]

Caribbean hotel performance declines in 2016

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From Hotel News Resource Compared with 2015, the Caribbean’s occupancy decreased 2.3% to 66.7%, and average daily rate (ADR) was down 0.3% to US$201.50. As a result, revenue per available room (RevPAR) fell 2.6% to US$134.48. The absolute occupancy level was the lowest in the Caribbean since 2013 (66.7%). The Caribbean hotel industry reported negative […]

Caribbean hotel profits continue to grow Cuba and Zika impact performance

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Atlanta, Ga. — CBRE Hotels Americas Research announced that the average Caribbean hotel experienced a 10.2 percent increase in gross operating profit (GOP) during 2015, according to its newly released tenth edition of Caribbean Trends® in the Hotel Industry. This is the fourth consecutive year that Caribbean hotels have seen a double-digit increase in GOP. […]

The big business of divorce

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By John Roach & Laura Roach, From Texas Lawyer Divorce is big business. In fact, it’s a $50-$175 billion business compared to the wedding industry which is estimated to generate just $40-$50 billion annually. Why is divorce big business? Just read the statistics: • There is a divorce every 13 seconds which equates to 46,000 […]

LINKS named as Cayman Islands Tourism PR and media ADR in Latin America

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Cayman Islands Department of Tourism names LINKS Worldgroup as PR and Media AOR in Latin America PR Agency News March 29, 2016 LINKS Worldgroup, a marketing and communications company based in Miami, Florida, announced it has been appointed as the public relations and media agency of record for the Cayman Islands Department of Tourism in […]

ADR the way to go

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From Trinidad & Tobago Newsday Say sorry and move on. It is what forms the basis of what is known as Alternative Dispute Resolution (ADR) and already, 300 people in the Caribbean have been trained in the techniques of mediation as a means of solving disputes rather than seeking redress in a court of law. […]

Caribbean hotels enjoy fourth consecutive year of double-digit NOI growth

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By Vicky Karantzavelou From Travel Daily News Rooms revenue (57.6 percent of total revenue in 2014) continues to be the greatest source of revenue for Caribbean properties. Last year, hotels in the Trends survey sample saw rooms revenue increase by 7.4 percent, mainly driven by a 5.1 percent increase in average daily rate (ADR). ATLANTA, […]