Impressive Growth in Curaçao’s Hotel Sector: September 2023 Performance Highlights

CHATA reports Curaçao’s hotels achieved a 75.6% average room occupancy inSeptember 2023, up 7.9 percentage points from the 67.7% achieved in September2022.According to STR, the leading provider of hotel performance data and analyticsworldwide,Curaçao’s hotels achieved a 75.6% average room occupancy in September2023, 7.9percentage points more than the 67.7% achieved in September 2022.The hotels achieved an ADR of $206.73 in September 2023, 9.1% higher than inSeptember 2022, while RevPar was$156.39, 22.0% more than in September 2022.STR received data from a sample of 15 hotels with 2,646 rooms in September of 2023,with the sample representing 54% of all hotel rooms in Curaçao.By comparison, STR reported that the average room occupancy forall hotels in theCaribbean reached 51.5% in September 2023, with an overall ADR of US$224.63 and aRevPar of US$115.68.According to the CTB, Curaçao received 45,952 stopover visitors in September 2023,23.4% more than the 37,230 stopover visitors received in September 2022. Thesestopovers generated 391,670 visitor nights in September, up 15.7% compared with the338,652 nights spent in September 2022. The average length of stay of these stopovervisitors fell from 9.10 nights in September 2022 to 8.52 nights in September of this year.Jim Hepple, the Interim Managing Director for CHATA, said CHATA was extremelypleased at the record level of stopover visitors achieved in September and theconsequent strong performance of Curaçao’s hotel sector. He notedthe hotel sector wasespecially pleased at the 22.0% increase in revenue per available room when comparedwith the region’s 13.7% increase in revpar.However, he also noted that a number of local hotels, which depend heavily uponbusiness from The Netherlands, were still facing challenges consequent upon this year’sreduced airlift, and that he hoped the introduction of new additional air service from theNetherlands this November would allow these hotels to see increased business in thecoming months.Through the first nine months of 2023 CHATA reports that Curaçao’s hotels achieved anaverage room occupancy of 72.0% compared with 70.2% for the first nine months of 2022.Again, compared with the first nine months of 2022, ADR grew by 8.1% from $209.07 in2022 to $226.00 in the first nine months of 2023. RevPar grew by 10.8% from $146.81 in2022 to $162.65 in the first nine months of 2023.STR reports that throughout the Caribbean as a whole average room occupancy grewfrom 61.0% in the first nine months of 2022 to 66.5% in the same nine months of this yearwith the region’s ADR growing by 13.4% to US$328.12 and its RevPar growing by 23.6%to US$218.07.