Caribbean has best year since 2008: STR

The Caribbean hotel industry reported increases in all three key performance metrics in 2011, according to data from STR.

In year-over-year comparisons, the Caribbean rose 2.6% in occupancy to 61.8%, average daily rate was up 2.6% to US$167.54, and RevPAR increased 5.2% 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% and demand in the region in 2011 rose 3.5%.