The Caribbean is experiencing its largest decline in hotel occupancy yet with a drop to just over 10 per cent.
According to STR, which is tracking the effects of the coronavirus outbreak, preliminary data shows that for the week of March 22-28 last, occupancy was down 85.9 per cent to 10.6 per cent.
The average daily rate (ADR) declined nearly 22 per cent to $231.60, and revenue per available room (RevPAR) was $24.44.
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 per cent 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 figures when it came to occupancy, reporting 13.3 per cent. Its ADR stood at $96.97 and it had the region’s lowest absolute RevPAR, down 88 per cent to $12.87.
Barbados experienced only a mild decline in ADR, down 18.6 per cent to $250.73, compared with the rest of the region .