KPMG's 2014 Caribbean Hotel Benchmarking Survey analyzes 2013 financial and operating statistics for hotel properties in the Caribbean.
The Survey results corroborate the findings of our 2013 Caribbean Hotel Benchmarking Survey which identified encouraging signs of growth returning to our region. Key performance indicators of occupancy, ADR and Rev PAR are all up this year and hoteliers are more confident about the future than at any time since 2010 when we first started this initiative.
Nearly half of respondents believe 2014’s operational performance will ultimately be better than 2013 and most expect meaningful growth to return in 2015 or 2016. Furthermore, taken as a whole, the number of Caribbean stop-over arrivals has increased, although admittedly not in every Caribbean country. Cost saving measures, hard won during the downturn, appear to now be embedded as both departmental and undistributed costs have increased by less than revenue, leading to welcome increases in gross operating profit. So overall, there is a lot of positive news to report.
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