from Hotel News Network (9/26):
Caribbean's RevPAR drop continues
26 September 2008 12:25 PM
HNN Newswire
"HENDERSONVILLE, Tenn.—Analysis of Caribbean hotel performance by STR reveals a 5.6-percent RevPAR decline for 2008 through July. Hotel demand grew 0.4 percent during the period, however new supply growth and rate decreases led to decreased revenue for the region.
STR data shows that moving 12-month figures (June 2007 – July 2008) remained flat. Revenue per room fell 0.1 percent on occupancy growth of 0.8 percent and a 0.8 percent decline in average daily rate. Further inspection reveals an imbalance in the period average. Strong performance in June – December 2007 offsets weak 2008 numbers." ...
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