NASSAU, BAHAMAS — Whole room nights offered within the trip rental market greater than doubled within the fourth quarter of final 12 months, based on the Central Financial institution.
The financial institution famous that knowledge offered by AirDNA indicated that complete room nights offered greater than doubled to 290,770 from 117,265 within the fourth quarter of 2020.
The information was included within the financial institution’s Quarterly Financial Assessment for the fourth quarter of 2021, which supplies an examination of the efficiency of the home economic system, in addition to sectoral developments in the course of the interval October to December.
“The respective positive factors have been strong for each lodge comparable and whole place listings,” the financial institution mentioned.
“For lodge comparables, common occupancy ranges firmed to 46.5 p.c from 31.1 p.c, whereas the typical every day charge (ADR) appreciated by 13.2 p.c to $177.18. Likewise, common occupancy ranges for total place listings moved larger to 49.3 p.c from 30.8 p.c, because the ADR rose by 12.9 p.c to $487.35.”
It continued: “Preliminary knowledge offered by the Nassau Airport Growth Firm Restricted (NAD) indicated that complete departures—web of home passengers—rebounded to 236,217 after an 89.6 p.c contraction to only 35,611 in 2020, attributed to the complete reopening of worldwide borders. Specifically, U.S. departures—which accounted for 86.1 p.c of all departures—amounted to 203,481, recovering from a 90.6 p.c discount to 27,438 a 12 months earlier. Equally, non-U.S. worldwide departures elevated to 32,736, following an 84.1 p.c falloff to eight,173 departures within the earlier 12 months.”
The report additionally highlighted the influence of inflation noting that client worth inflation—as measured by adjustments within the common Retail Worth Index (RPI) for The Bahamas—rose to 2.3 p.c in the course of the twelve months to October, from 0.2 p.c in the identical 2020 interval.
“Underlying this improvement, after posting respective decreases within the earlier 12 months, common costs for clothes and footwear elevated by 16.8 p.c; for transport, by 4.4 p.c and for housing, water, gasoline, electrical energy & different fuels—probably the most closely weighted element—by 3 p.c,” the Central Financial institution famous.
It additionally famous that the typical worth of gasoline rose by 4.2 p.c to $4.77 per gallon over the three-month interval and surged by 18.8 p.c compared to the identical interval of 2020.
“Equally, diesel prices moved larger by 1.7 p.c to $5.23 per gallon and on an annual foundation, the typical worth elevated sharply by 50.4 p.c,” the financial institution mentioned.
“Nevertheless, underpinned by the hedging preparations, the Bahamas Energy and Gentle’s (BPL) gasoline cost held regular at 10.50 cents per kilowatt hour (kWh) over the three-month interval and year-over-year.”