Research

Puerto Rico Hospitality Report 2020

2020 has been devastating to the tourism and hospitality sectors around the globe as a result of the Coronavirus Pandemic, and Puerto Rico is no different. Occupancy rates plummeted from 73.5 percent in February to 5.3 percent in April, somewhat recovering to 43.1 percent by July. According to Reuters, Puerto Rico currently has around 15,000 hotel room, approximately a quarter of the rooms in the Dominican Republic. This figure is up from 9,000 rooms in the 1970s. Inexpensive airfares and travel restrictions throughout the rest of the Caribbean have driven some highly motivated travelers to the Island; however, a complete shutdown in corporate and less-motivated travelers have taken a toll on hospitality demand. Puerto Rico has faced strict lockdown and curfew policies that have further deterred tourism. However, as these policies are lifted and pent up demand begins to manifest itself, the island hopes to recover its tourism industry as it will be a safer option to traveler from the U.S. who want to avoid crossing borders for the time being.

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