The Bonaire Hotel and Tourism Association (BONHATA) works together with its accommodation members to keep track of key indicators for the tourism industry on Bonaire and provides quarterly performance updates. At present, the indicators tracked are:
- Occupancy Rate (OCC %): The percentage of occupied rooms at any given time compared to the total number of available rooms at that time
- Average Daily Rate (ADR $): Indicates the average revenue earned for an occupied room on a given day
- Revenue per Available Room (RevPar $): Represents the revenue generated per available room and is calculated by multiplying an accommodation’s average daily room rate (ADR) by its occupancy rate.
This analysis takes a look at the performance of the first 6 months of 2024. Let’s dive into it:
Occupancy Rate H1 2024
For the first half of 2024 we see a slight increase in the the occupancy rate (OCC %) when compared to the same period in 2023. Following the trend that we see in occupancy rates over the years, there’s a clear dip in OCC % after march, both in 2024 and in 2023.
Average Daily Rate Q1 2024
The first quarter of 2024 started with a lower Average Daily Rate (ADR) than in 2023 but stabilized in April, showing a higher ADR than in the same month in 2023. This change could be due to pricing strategy changes implemented by accommodation providers.
A view on RevPAR
The first quarter shows a consistent decrease in RevPAR, reflecting both lower occupancy and ADR in these months. The second quarter shows a mixed but generally improving trend, with May and June showing significant improvements compared to the same months in 2023. This is likely due to increased ADR and a possible stabilization or improvement of occupancy rates.
First Quarter Comparison 2024 vs 2023
Second Quarter Comparison 2024 vs 2023
Third Quarter Forecast
The third quarter forecast for 2024 shows a promising outlook with significant improvements in ADR and RevPAR. While the Occupancy Rate shows a slight decrease, it remains relatively stable. This indicates that we expect a consistent demand and the opportunity exists to attract more guests with targeted marketing strategies and enhanced guest experiences.
