Puerto Rico tops US$1 billion in lodging revenue
Puerto Rico’s accommodation industry has generated US$1 billion during the first seven months of 2022.
The industry achieved the milestone three months earlier than in 2021, a year that ended with about $1.3 billion in revenues.
“We have hit that mark for only the second time in history, and we’ve done it three months earlier,” said Alisha Valentine, Director of Research and Analytics at Discover Puerto Rico.
“Despite the industry concerns, we’ve seen increased demand for lodging over last year’s record-setting pace. Through the end of July, total lodging demand is 18% higher than a year ago.”
Brad Dean, Chief Executive Officer of Discover Puerto Rico, said it is especially remarkable since the tourism industry confronted a volatile economic scenario, not only in Puerto Rico, but in international markets.
Accommodations reservations for the remaining two quarters of 2022 are projected to be above pre-pandemic levels.
The outlook for the fourth quarter is promising, with hotel bookings 6% higher than in 2021.
There is a 12% bump reported in short-term rentals.
Ray Monty
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