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Hospitality & Tourism performance August 2022

Occupancy levels remain stable

Willemstad, 22 September 2022 – CHATA & CASHA publish monthly results of hotel, alternative accommodations, car rentals and dive school results through which the associations present a balanced overview of Curaçao’s tourism & hospitality sector’s performance and recovery.

CASHA presents occupancy figures for August 2022

August was a positive month for CASHA members. The accommodations reported an average occupancy of 68%; an increase of 4% compared to July and August of 2021. Unfortunately, some members did not reach these occupancy numbers, as they reported occupancies below 40%. Members shared that tourists are not booking due to high air fares. In addition, the disruption caused by flight cancelations and last-minute changes in flight schedules do not contribute to an increase in bookings. Despite these factors, cancellations accounted for a mere 1.8%. Car rentals performed well in August with an 80% occupancy as do the Dive schools, claiming a 75% occupancy rate. Illegal dive schools are still causing much hinder, offering cheaper dives and non-compliance with minimum safety standards. CASHA members offering activities performed well in August and reported an occupancy rate of 67%. The outlook for winter 2022/23 is positive for CASHA members, as the anticipation is that Europeans will escape the high gas and electricity prizes.

CHATA presents occupancy figures for August 2022

August was a positive month for CHATA members. The larger hotels had an average occupancy rate of 71,1%, which compared to August 2021 (71,3%) decreased by -0,3%. However, the comparison with August 2019 which had an occupancy rate of 74.9% indicates a decrease of -5.1%. The August average daily rate increased with +17,1% compared to 2021, to $205,81 and compared to August 2019 the ADR increased by +32.3%. In addition, revenue per available room (RevPAR), numbers indicate an increase of +16,8% compared to 2021; from $125,30 in 2021 to $146,31 in 2022, and compared to August 2019, the revenue per available room also increased by +25,5%. The recovery for August compared to 2019 was 95%. The total year to date recovery of the sector for 2022 compared to 2019 is 96%, while the YTD recovery for 2021 vs. 2019 was 54%.

The table below summarizes the STR data:

Aug.202220212022 vs. 202120192022 vs. 2019

*Smith Travel Research (STR) is the leading global provider of competitive benchmarking, information services and research to the hotel industry.

*STR Data is based on a sample of 12 reporting properties and represents 2321 rooms, which is 48,4% of the total reporting rooms in Curaçao.

The hospitality and tourism sector recovery continues on a positive trend through the arrival of visitors. However, external influences of rising prices and the war in Ukraine continue to influence the future worldwide outlook, causing CHATA and CASHA to remain cautiously optimistic about the future of the sector and the remaining months of 2022.

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