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 $): This 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 2024. Let’s dive into it:
Occupancy Rates
The graph shows year-to-date occupancy rates for 2019, 2023, 2024, and a forecast for early 2025. Occupancy rates demonstrate steady recovery post-pandemic, with 2024 improving performance, particularly in the latter months. The 2025 forecast indicates a sharp rise and signaling growth.
Average Daily Rate
The graph shows the Average Daily Rate (ADR) trends for 2019, 2023, 2024, and a forecast for 2025. ADR in 2023 and 2024 reflects gradual growth compared to 2019, with a noticeable rise toward the end of the year. The sharp increase in 2024 and 2025 may also be attributed to the rising cost of doing business in recent years, alongside stronger demand and higher pricing confidence.
A view on RevPAR
The graph shows Revenue per Available Room (RevPAR) trends for 2019, 2023, 2024, and a 2025 forecast. RevPAR in 2023 and 2024 surpasses 2019, with strong growth in late 2024. The 2025 forecast highlights a significant rise, reflecting higher demand, pricing strategies, and increased operational costs.
YTD Forecast
The graph compares Occupancy (OCC%), Average Daily Rate (ADR), and Revenue per Available Room (RevPAR) for 2019, 2023, and 2024. While occupancy slightly decreased from 2019, ADR and RevPAR have significantly increased, reflecting higher pricing strategies and improved revenue generation. This highlights recovery and growth in the tourism sector despite challenges.
