Published On: Wed, Nov 1st, 2017

Curaçao August hotel performance analysis

WILLEMSTAD - The following are the preliminary September hotel performance data compiled by the Curaçao Hospitality & Tourism Association. The following data is based on 12 properties reporting to STR representing 1772 rooms.

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What happened in September 2017?

•Occupancy stayed consistent to September 2016.
•Average Daily Rates (ADR) decreased by 0.4% compared to 2016
•Revenue Per Available Room (RevPAR) stayed consistent to 2016
•As can be seen, September performance was consistent to 2016.Although Occupancy was higher in 2017 than in 2015, ADRand RevPAR have not increased.
•Some events that took place in September were: Junior Tecla Concert, Amnesia Music Festival, Curaçao Gay Pride Week, Nachtwerk, and Face it with Hardwell.
•Hurricane Irma caused massive destruction in Saint Martin resulting in a lot evacuations to Curaçao.

What are the CHATA hotels seeing compared to September2016?

•3STR reporting properties reported an increase in occupancy. Properties not reporting to STR: 4property saw an increase in occupancy compared to last year, while 1 reported a decrease.
•2STR reporting properties reported an increase in ADR, while 1reported a decrease. Properties not reporting to STR: 4 properties reported an increase in ADR while 1 reported a decrease.
•3STR reporting properties reported an increase in RevPAR. Properties not reporting to STR: 4 properties reported an increase while 1 reported a decrease.

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What happened Year to Date (YTD) in September2017?

•Year to Date September hotel performance is consistent to 2016. While Occupancy and RevPAR increased compared to 2015, ADR was still about $10 higher in 2015.
•What also needs to be taken in consideration, is the fact that the hotel room inventory has decreased compared to 2016 which can increase the overall performance on the island.

Caribbean Hotel Performance

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What happened in the Caribbean?

•In September, the Caribbean was affected by various hurricanes. Hurricane Irma caused catastrophic damage in Barbuda, St Barts, St. Martin, Anguilla and the Virgin Islands as a category 5 hurricane. Also affected were Barbados, Cuba, Haiti, and Puerto Rico. Just two weeks later another Hurricane Maria made its way to the Caribbean.
•As can be seen, overall the Caribbean hotel performance decreased significantly compared to 2017.
•Although a big decrease in September, the YTD performance stayed quite consistent compared to 2016.

 

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