If you’re not moving forward you’re moving backwards they say, so in that sense last year’s occupancy figures (see Tuesday edition) presented by St. Maarten Hospitality and Trade Association (SHTA) can be considered disappointing. An overall rate of 64.8% compared to 64.2% in 2022 is probably not what most involved in stay-over tourism would have hoped for.
Still, the annual totals were not as bad as some might have feared based on a very slow low season. Even though the 2023 occupancy was down in five of 12 months from the year before, the number of room nights used remained comparable.
Relatively good news is that the last two months of the year saw increases of 6.2% in November and 7.0% in December compared to 2022, reaching respectively 71.4% and 77.3%. Hopefully this positive trend continues during the first quarter of 2024.
People should also keep in mind that the inventory has gradually continued to grow since much of it was severely damaged and in various cases completely destroyed by Hurricane Irma of September 2017. That rebuilding process is ongoing, along with significant new resort construction.
Another factor regards the so-called “home-sharing” phenomenon with online platforms like Airbnb. SHTA has earlier stated that the amount of such local offers nowadays came close to the capacity of more traditional visitor accommodations.
Without wanting to sound like a broken record, one must again point out that regulating and fairly taxing this sector has been the highest priority for some time, yet so far with few tangible results. And it’s not just about ensuring the country’s main economic activity produces enough revenues for the national treasury and public services, but creating a more level playing field in the hospitality industry.
