Caribbean hoteliers are predicting a positive tourism performance for 2017.
Indeed, more than four out of five hoteliers in the Caribbean have an encouraging outlook for tourism this year, according to the results of thesecond annual CHTA Industry Performance and Outlook Study.
CHTA Director General and CEO saidthe survey, conducted by the CHTA, was undertaken to assist the organization in gaining a better understanding of the state of the tourism economy, its outlook, and the degree to which a number of factors impact or may affect the tourism industry.
The survey, administered during the first two weeks of this year, polled a representative sampling of hotels throughout the Caribbean of varying sizes and categories, and examined their 2016 performance and 2017 expectations for factors in areas such as employment levels, revenue, profits, capital spending, room occupancy, and rates, each forming the basis for assessing the state of the tourism economy.
In 2016, hoteliers reported an even split on revenue performance with 47 percent recording an increase and similar percentage reporting a decrease.
While expectations for the year were higher initially, last years mixed performance came after an exceptional year for Caribbean tourism in 2015.
Hoteliers entered 2016 with high performance expectations but these were tempered as a combination of unanticipated factors surfaced during the year, Comito said.
These events included a warmer than usual winter in the regions primary feeder markets, Canadian and U.K. exchange rates, Brexit, the threat of Zika, and political and economic certainty in parts of the world, according to the survey respondents.
Despite these challenges, the profitability picture improved over the previous year, with most hotels registering a net profit in 2016.
Seventy-eight percent of respondents reported a net profit while 22 percent reported a net loss.
Looking ahead for 2017, more than two-thirds anticipate an increase in revenue, and 56 percent expect a slight improvement in profits.
About 55 percent of hotels also increased capital expenditures in 2016, with a quarter of those investing more than 10 percent over what they did in 2015.
This is a positive sign and an indication of long-term confidence by Caribbean hoteliers in the industry, said Comito.
Although room occupancy decreased for just over half of the reporting hotels, a notable proportion reported an increase in occupancy.
More hoteliers are optimistic for 2017, with two-thirds expecting an increase in occupancy.
Despite the fact that average daily room rates were reduced by 45 percent of hotels, as many of 42 percent increased their rates.
This year, approximately 55 percent of hoteliers expect to increase ADR while only 15 percent expect downward on rates.
The CHTA added it is important to note that employment levels were maintained by 55 percent of survey respondents in 2016, while only 17 percent reduced staffing levels and a sizable proportion hired more staff a pattern which anticipated to continue in 2017.
Dana Niland, CJ Contributor
See original here:
Caribbean Hoteliers Optimistic for 2017 - Caribbean Journal
- Royal Caribbean and Carnival Cruise ships leave from Baltimore for the first time since the collapse of the Key Bridge - Yahoo! Voices - May 29th, 2024 [May 29th, 2024]
- Man with seizure on Royal Caribbean cruise had to pay $2500 bill during evacuation - The Independent - May 29th, 2024 [May 29th, 2024]
- Tropical threat may arise in Caribbean days after hurricane season begins - AOL - May 29th, 2024 [May 29th, 2024]
- What you need to know about record-breaking heat in the Atlantic Yale Climate Connections - Yale Climate Connections - May 29th, 2024 [May 29th, 2024]
- 13 Best Jack Sparrow Quotes in 'Pirates of the Caribbean,' Ranked - Collider - May 29th, 2024 [May 29th, 2024]
- 8 Reasons Why Margot Robbie's Pirates Of The Caribbean Spinoff Is More Exciting Than POTC 6 - Screen Rant - May 29th, 2024 [May 29th, 2024]
- PAHO urges countries to strengthen dengue prevention in Central America, Mexico and the Caribbean - Pan American Health Organization - May 29th, 2024 [May 29th, 2024]
- Disney's Pirates of the Caribbean Ride SURPRISED Us in Magic Kingdom See WHY! - AllEars.Net - May 29th, 2024 [May 29th, 2024]
- US issues severe 'Do not travel' warning for this Caribbean country - New York Post - May 29th, 2024 [May 29th, 2024]
- EU Commissioner Urpilainen Meets With Caribbean Counterparts At SIDS Conference in Antigua & Barbuda - EEAS - May 29th, 2024 [May 29th, 2024]
- Royal Caribbean Sailing the Seas of Success - FX Empire - May 29th, 2024 [May 29th, 2024]
- Sharp Dragon Expands Towards Africa and The Caribbean - Check Point Research - Check Point Research - May 29th, 2024 [May 29th, 2024]
- Heres What It's Like to Travel on Royal Caribbean's Icon of the Seas - Remezcla - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - Gwinnettdailypost.com - May 29th, 2024 [May 29th, 2024]
- American company tells Mexico president that his $385m offer to buy its Caribbean property for ecotourism ... - Fortune - May 29th, 2024 [May 29th, 2024]
- Caribbean foods and culture highlighted at International Food Festival in Mount Vernon - News 12 Westchester - May 29th, 2024 [May 29th, 2024]
- 7 Hidden Gem Islands In The Caribbean Perfect For Retirement - TheTravel - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - mycouriertribune.com - May 29th, 2024 [May 29th, 2024]
- Caribbean Heritage Month events hosted by PGParks & Recs - WUSA9.com - May 29th, 2024 [May 29th, 2024]
- Secrets of sargassum: Scientists advance knowledge of seaweed causing chaos in the Caribbean and West Africa - Phys.org - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - Rockdale Newton Citizen - May 29th, 2024 [May 29th, 2024]
- Icon of the Seas: Exploring private islands, swim up bars and Broadway shows on Royal Caribbean's newest cruise ship - HELLO! - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - Napoleon Northwest Signal - May 29th, 2024 [May 29th, 2024]
- Ben Bouldin to head of Royal Caribbean in China - - Cruise Adviser - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - Lenoir News-Topic - May 29th, 2024 [May 29th, 2024]
- Seaweed clogging up Caribbean 'could be used to produce sustainable goods' - Islander News.com - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - The Elkhart Truth - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - Herald Palladium - May 29th, 2024 [May 29th, 2024]
- Seaweed plaguing the Caribbean could become eco-friendly products - The Bryan Times - May 29th, 2024 [May 29th, 2024]
- Pirates Of The Caribbean Changed Completely Because Of Johnny Depp - Giant Freakin Robot - May 29th, 2024 [May 29th, 2024]
- Johnny Depp's Potential Return In Pirates Of The Caribbean Reboot Addressed By Producer - Screen Rant - May 21st, 2024 [May 21st, 2024]
- Johnny Depp Will Return as Jack Sparrow if Pirates of the Caribbean Producer Gets His Way - MovieWeb - May 21st, 2024 [May 21st, 2024]
- Virgin Voyages Expands Caribbean Summer Season Pass - Cruise Industry News - May 21st, 2024 [May 21st, 2024]
- Pirates of the Caribbean Producer Interested in Bringing Johnny Depp Back, "We'll See What Happens" - ComicBook.com - May 21st, 2024 [May 21st, 2024]
- Johnny Depp Spotted on Disney Set, 'Pirates of the Caribbean 6' Confirmed - Inside the Magic - Inside the Magic - May 21st, 2024 [May 21st, 2024]
- Can the circular economy help the Caribbean win its war against waste? - Mongabay.com - May 21st, 2024 [May 21st, 2024]
- Heat Stress Is Hitting Caribbean Reefs Earlier Than Ever This Year - The New York Times - May 21st, 2024 [May 21st, 2024]
- CTO says Caribbean Week in NYC 'set to sparkle' Caribbean Life - Caribbean Life - May 21st, 2024 [May 21st, 2024]
- Researchers propose building US-Caribbean 'super grid' to offset solar energy losses during tropical storms: 'Need to ... - The Cool Down - May 21st, 2024 [May 21st, 2024]
- Banyan Tree is making its first foray into the Caribbean market. - Breaking Travel News - May 21st, 2024 [May 21st, 2024]
- Caribbean Hot in 2024 Tourism Surge - Travel And Tour World - May 21st, 2024 [May 21st, 2024]
- Afro Caribbean Cultural Center on the move - Waterbury Republican American - May 21st, 2024 [May 21st, 2024]
- Pirates of the Caribbean franchise without Jack Sparrow? Read on - Deccan Chronicle - May 21st, 2024 [May 21st, 2024]
- Investing in gender equality in Latin America and the Caribbean for a better world - Comisin Econmica para Amrica Latina y el Caribe - May 21st, 2024 [May 21st, 2024]
- Pirates of the Caribbean Producer Confirms Two New Movies Are Now in Development - MovieWeb - May 21st, 2024 [May 21st, 2024]
- Patricia Affonso-Dass: Leading The Way In Caribbean Hospitality - Travel And Tour World - May 21st, 2024 [May 21st, 2024]
- I hope you like Pirates of the Caribbean, because both a reboot and that thought-to-be-dead Margot Robbie movie are ... - VG247 - May 21st, 2024 [May 21st, 2024]
- Caribbean communicators and health promoters participate in PAHO-led workshop on Risk Communications and ... - Pan American Health Organization - May 21st, 2024 [May 21st, 2024]
- American Airlines Boosts Service to Caribbean Destinations for Winter Travel - Business Traveler USA - May 21st, 2024 [May 21st, 2024]
- Disney Still Really Wants to Make That Margot Robbie Pirates of the Caribbean Movie, Jerry Bruckheimer Says - IGN - May 21st, 2024 [May 21st, 2024]
- Bubba-Doo's takes on the Caribbean Part 2 Baptist News Global - Baptist News Global - May 21st, 2024 [May 21st, 2024]
- Cruise ops returning to Baltimore after temporary move to Norfolk - 13newsnow.com WVEC - May 21st, 2024 [May 21st, 2024]
- New Pirates of the Caribbean movies unlikely to feature Johnny Depp as lead - Business Insider India - May 21st, 2024 [May 21st, 2024]
- Tourism's contribution to Caribbean GDP expected to rise | News - Breaking Travel News - May 21st, 2024 [May 21st, 2024]
- 'Pirates of the Caribbean: Tides of War' Adds New Tacticians with Its 7th Anniversary Update TouchArcade - Touch Arcade - May 21st, 2024 [May 21st, 2024]
- Caribbean Renewable Energy Forum Awards ELM-Solar Island Energy Project as Microgrid of the Year - Microgrid Knowledge - May 21st, 2024 [May 21st, 2024]
- Caribbean Hotel & Tourism Association Unveils Bold Rebranding, Ushering In New Era For Caribbean Hospitality - Travel And Tour World - May 21st, 2024 [May 21st, 2024]
- Icon of the Seas by Wilson Butler Architects and Royal Caribbean is the world's largest cruise ship - The Architect's Newspaper - May 21st, 2024 [May 21st, 2024]
- Lrssen superyacht Lady Lara in the Caribbean - SuperYacht Times - May 21st, 2024 [May 21st, 2024]
- Climate Crisis Costs: Caribbean Nations Demand Global Financial System Reforms - Pulitzer Center on Crisis Reporting - May 21st, 2024 [May 21st, 2024]
- New satellite imagery reveals expanse of oil spill in Caribbean - Fox Weather - February 18th, 2024 [February 18th, 2024]
- Oil spill off Trinidad and Tobago blackens Caribbean beaches - The Washington Post - February 18th, 2024 [February 18th, 2024]
- Passenger dies aboard 9-month Royal Caribbean cruise around the world - NBC News - February 18th, 2024 [February 18th, 2024]
- Royal Caribbean Group Signs with Chantiers For Next Oasis Class Ship - Cruise Industry News - February 18th, 2024 [February 18th, 2024]
- Royal Caribbean Perfect Day at CocoCay new adult-only area: review - Business Insider - February 18th, 2024 [February 18th, 2024]
- Tourists Warned To Protect Their Passports As Thefts In The Mexican Caribbean On The Rise - The Cancun Sun - February 18th, 2024 [February 18th, 2024]
- Antigua: Elderly man charged with second homicide of 2024 | Loop Caribbean News - Loop News Caribbean - February 18th, 2024 [February 18th, 2024]
- With Jamaica and Bahamas under travel advisories, which Caribbean islands are safe to book your next vacation? - SILive.com - February 18th, 2024 [February 18th, 2024]
- Royal Caribbean Gives Unprecedented Choice on Ultimate World Cruise - Cruise Hive - February 18th, 2024 [February 18th, 2024]
- Disney's Extensive Pirates of the Caribbean Change Officially Closes Attraction - Inside the Magic - Inside the Magic - February 18th, 2024 [February 18th, 2024]
- Royal Caribbean's new Icon of the Seas: What it's like to stay on the largest cruise ship in the world - CNA: Breaking News, Singapore News, World and... - February 18th, 2024 [February 18th, 2024]
- At Grenada's Spice Island Beach Resort, the Art of the Luxury All-Inclusive - Caribbean Journal - February 18th, 2024 [February 18th, 2024]
- Director Malaury Eloi-Paisley on Her Debut Documentary 'L'Homme Vertige,' and the Unvarnished Reality of ... - Yahoo Entertainment - February 18th, 2024 [February 18th, 2024]
- See Royal Caribbean's newest giant cruise ship, Utopia of the Seas - Business Insider - February 18th, 2024 [February 18th, 2024]
- Preparing for Development of the Blue Economy in the U.S. Caribbean - NOAA Fisheries - February 18th, 2024 [February 18th, 2024]
- Latin America & The Caribbean Weekly Situation Update as of 16 February 2024 - Haiti - ReliefWeb - February 18th, 2024 [February 18th, 2024]
- Europe and Latin America & the Caribbean step up cooperation on cybersecurity - EEAS - February 18th, 2024 [February 18th, 2024]
- Royal Caribbean Confirms 9-Month Cruise Will Not Go Through Red Sea and Suez Canal Due to Middle East Unrest - PEOPLE - February 18th, 2024 [February 18th, 2024]
- Where is Death in Paradise set? The Caribbean island behind the BBC show - The Independent - February 18th, 2024 [February 18th, 2024]
- Trinidad and Tobago: overturned barge leaks oil into Caribbean Sea video report - The Guardian - February 18th, 2024 [February 18th, 2024]