Small Hotels Retreat Boosts Optimism
Members of the Caribbean Hotel and Tourism Association (CHTA) exhibited a renewed sense of optimism following the 2010 Small Hotels Retreat in Puerto Rico this month.
“Small hotels are the backbone of the Caribbean hotel industry, providing the specific Caribbean flavor at the core of vacationers’ memories,” said Josef Forstmayr, president of CHTA, when he recently opened the three-day conference.
Brittany Baldwin, sales executive for Smith Travel Research, who provided an overview of the State of the Lodging Industry said the average daily rate (ADR) increased by four percent throughout the Caribbean in 2010 based on statistics collected through July, and that revenue per available (RevPAR) room rose 5.8 percent. Occupancy levels increased by 1.8 percent and room revenue jumped 6.1 percent during the same period.
News for the small hotel sector was even more positive, demonstrating a 10.8 percent increase in ADR and a 19 percent leap in RevPAR. Small hotels saw occupancy increase by 7.4 percent with room revenue jumping 19.7 percent, said a statement sent to Guardian Business on the event.economy, hotels, tourism