The latest data from STR paints a grim reality for hotels in the Caribbean, and the bottom hasn’t been hit yet.

On March 28, occupancy was 10.6% and revenue per available room was down 89% from a year earlier, said STR’s Emile Gourieux in a webinar on Friday. Puerto Rico had 7.6% occupancy, the Dominican Republic 7.1% and Barbados a lowly 1.5%.

Gourieux said STR expects that declines will continue through 2020 and that there will be a “strong comeback for 2021 but most hotels will not return to their peak RevPAR and high occupancies until 2022.” 

He pointed out that China already has started back on the road to recovery. 

“I feel that the demand for travel will be even stronger than before, and the best thing to do now is to take care and to start planning and preparing for the return of demand,” he said.

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