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The Caribbean Hotel Sector - October 2013

This report provides an overview of the Caribbean hotel sector. Following a review of economic and hotel capacity and performance trends, the top ten country markets are profiled. Haiti is also featured as the new frontier for hotel development in the Caribbean. Otherwise, the impact of a possible opening up of Cuba to US tourists is examined.

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Table of contents

  1. Introduction

      • Key findings
        • Data Sources
        • Overview

          • Source market economies
            • Figure 1: WEO forecasts (% change unless noted otherwise), July 2013
          • Exchange rates
            • Delimiting the Caribbean region
              • Figure 2: List of Caribbean countries, 2013
            • Tourism arrivals
              • Figure 3: Tourist arrivals* & share of Caribbean total, 2012
            • By source market
              • Figure 4: Breakdown of arrivals in the Caribbean, by source market, 2012
            • Source market by country
              • Figure 5: Tourist arrivals*, by main markets, 2012
            • Forecasted incoming tourism receipts
              • Figure 6: Forecasted incoming tourism receipts, by Caribbean country, 2012-20
            • Trend in tourist accommodation capacity in the Caribbean
              • Figure 7: Tourist accommodation in rooms in the Caribbean*, 1980, 2000 & 2005-11
            • Commonwealth Caribbean countries
              • Figure 8: Number of rooms in tourist accommodation in Caribbean Commonwealth countries*, 1980, 2000 & 2005-11
            • Dutch and French Caribbean
              • Figure 9: Number of rooms in tourist accommodation in Dutch & French Caribbean, 1980, 2000 & 2005-11
            • US and other Caribbean countries
              • Figure 10: Number of rooms in tourist accommodation in US & other Caribbean, 1980, 2000 & 2005-2011
            • Performance trend
              • Figure 11: Hotel performance in the Caribbean YTD July 2012 versus YTD July 2013
            • Largest increase in profits since 2008
              • Figure 12: Change in Caribbean hotel unit-level performance, 2011-12
              • Figure 13: Revenue mix at Caribbean hotels, 2012
            • Particularities of the Caribbean operating environment
              • Figure 14: Caribbean resorts versus comparable US resorts, 2012
            • New hotel construction
              • Hotel construction costs
                • Figure 15: Hotel construction costs by Caribbean country, 2013
            • Major Market Profiles

                • Figure 16: Leading countries/territories for incoming tourism receipts in 2012 & 2020
              • Aruba
                • Source markets
                  • Figure 17: Number of visitor nights in Aruba, 2011-12
                • Hotel capacity
                  • Figure 18: Tourist accommodation in Aruba, 2009-12
                • Hotel performance
                  • Figure 19: Hotel occupancy in Aruba, 2008-12
                  • Figure 20: Average daily rates in Aruba, 2008-12
                  • Figure 21: RevPAR in Aruba, 2008-12
                • New projects
                  • Ritz-Carlton
                    • Hard Rock Hotel & Casino
                      • Bahamas
                        • Source markets
                          • Figure 22: Tourist arrivals, by source markets, 2012
                        • Hotel capacity
                          • Figure 23: Number of hotels in the Bahamas, 2013
                        • Hotel performance
                          • Figure 24: Hotel performance in the Bahamas, 2012
                          • Figure 25: Hotel performance, year to date May 2013
                        • New projects
                          • Barbados
                            • Source markets
                              • Figure 26: Tourist arrivals by country of residence, January to June 2012 & 2013
                            • Hotel capacity
                              • Figure 27: Accommodation for visitors in hotels & similar establishments (rooms), 2007-11
                            • Hotel performance
                              • New projects
                                • Bermuda
                                  • Source markets
                                    • Figure 28: Nationality of air arrivals, 2011-12
                                  • Hotel capacity
                                    • Figure 29: Trend in Bermuda’s hotel capacity, 2003-12
                                  • Hotel performance
                                    • Figure 30: Bednights by accommodation type for air visitors, 2011-12
                                  • New projects
                                    • Cayman Islands
                                      • Source markets
                                        • Figure 31: Arrivals by air by source market, 2011-12
                                      • Hotel capacity
                                        • Figure 32: Accommodation for visitors in hotels & similar establishments (rooms), 2007-10*
                                      • Hotel performance
                                        • Figure 33: Room occupancy in accommodation for visitors in hotels & similar establishments, 2007-10*
                                      • New projects
                                        • Cuba
                                          • Source markets
                                            • Figure 34: Cuba’s source markets, 2011-12
                                          • Hotel capacity
                                            • Figure 35: Accommodation for visitors in hotels & similar establishments, 2007-11
                                          • Hotel performance
                                            • New projects
                                              • Dominican Republic
                                                • Source markets
                                                  • Figure 36: Arrivals in the Dominican Republic, January-June, 2012 & 2013
                                                • Hotel capacity
                                                  • Hotel performance
                                                    • Figure 37: Trend in hotel occupancy by local market, 2008-12
                                                    • Figure 38: Occupancy by hotel market in Dominican Republic, January-June, 2012 & 2013
                                                  • New projects
                                                    • MLT’s Delta Vacations and United Vacations
                                                      • Westin Puntacana
                                                        • Blue Diamond Hotels and Resorts
                                                          • Jamaica
                                                            • Source markets
                                                              • Figure 39: Trend in Jamaica’s source markets, 2010-13
                                                            • Hotel capacity
                                                              • Figure 40: Trend in capacity in hotels & similar establishments in Jamaica, 2007-11
                                                            • Hotel performance
                                                              • Figure 41: Occupancy in hotels & similar establishments in Jamaica, 2007-11
                                                            • New projects
                                                              • Hyatt to open all-inclusive resort at in Montego Bay
                                                                • Playa Hotels & Resorts
                                                                  • Puerto Rico
                                                                    • Source markets
                                                                      • Figure 42: Tourist arrivals by main markets, 2012
                                                                    • Hotel capacity
                                                                      • Figure 43: Trend in capacity in hotels & similar establishments in Puerto Rico, 2007-11
                                                                      • Figure 44: Trend in hotel room stock in Puerto Rico, 2005/06-2009/10*
                                                                    • Hotel performance
                                                                      • Figure 45: Hotel performance in Puerto Rico year to date, July 2013 vs July 2012
                                                                    • New projects
                                                                      • Hyatt Place Bayamón
                                                                        • Hyatt Place hotel in Manatí
                                                                          • US Virgin Islands
                                                                            • Source markets
                                                                              • Figure 46: Estimated hotel guests by area of origin for US Virgin Islands hotels, 2011-12
                                                                              • Figure 47: Tourist arrivals in the US Virgin Islands, 2003-12
                                                                            • Hotel capacity
                                                                              • Figure 48: Hotel room nights available in the US Virgin Islands, year to date, January 2011 to December 2012
                                                                            • Hotel performance
                                                                              • Figure 49: Hotel occupancy rates in the US Virgin Islands, year to date, monthly, quarterly & annual totals, January 2011 to December 2012
                                                                            • New projects
                                                                            • Haiti – the New Frontier

                                                                                • The Royal Oasis
                                                                                  • Best Western Premier
                                                                                    • Staffing a challenge
                                                                                      • Initial performance
                                                                                        • Safety and security precautions
                                                                                          • Music and art attractions
                                                                                            • NH Haiti El Rancho
                                                                                              • A Marriott under construction
                                                                                                • The development challenge
                                                                                                  • Opportunities in various segments
                                                                                                    • A new sustainable resort
                                                                                                      • The importance of safety and security
                                                                                                        • Putting the infrastructure in place
                                                                                                          • Tour-operator agreement
                                                                                                            • Airport upgraded
                                                                                                              • Travel warnings
                                                                                                              • Major Hotel Transactions

                                                                                                                  • Figure 50: Major hotel transactions in the Caribbean, 2013
                                                                                                              • What Next?

                                                                                                                • Regional pipeline outlook
                                                                                                                  • Caribbean countries lead the way
                                                                                                                    • Dominican Republic out in front
                                                                                                                      • Airlift a concern
                                                                                                                        • Caribbean airlift ‘inadequate, too expensive’
                                                                                                                          • The impact of US mass tourism to Cuba

                                                                                                                          Companies Covered

                                                                                                                          To learn more about the companies covered in this report please contact us.

                                                                                                                          The Caribbean Hotel Sector - October 2013

                                                                                                                          US $391.67 (Excl.Tax)