THE TURKS AND CAICOS ISLANDS IS TOP PREMIUM CLASS DESTINATION IN 2024

Tops region with highest occupancy rates for March 2024

PROVIDENCIALES, TURKS AND CAICOS ISLANDS  – The Turks and Caicos Islands is outperforming its Caribbean counterparts as a premium class destination and in hotel occupancy.

For 2024, the Turks and Caicos Islands has emerged the top performing premium class destination in the Caribbean.

Data from Forward Keys Destination Insights Caribbean Travel Trends 2024 shows that the Turks and Caicos Islands is showing the highest growth in premium class travel with a 73 percent growth for the year so far.

The data, which was shared at the Caribbean Hotels and Tourism Association’s 42^nd Caribbean Travel Forum in Montego Bay, Jamaica on May 20^th, showed that while overseas air passenger arrivals to the Caribbean saw growth of 9 percent year-on-year in the first half of 2024, bookings in high-end cabins (First and Business Class) are substantially outperforming the market average, with growth of 39 percent compared to the same period in 2023.

Forward Keys said this demonstrates the strength of luxury travel to the region as high-yield travellers continue to seek out exclusive Caribbean experiences.

Commenting on the data, Minister of Tourism, the Honourable Josephine Connolly, said it reaffirms the Turks and Caicos Islands’ reputation as the premier luxury destination in the region.

“With the best beaches in the Caribbean, including the award-winning Grace Bay Beach, and a multi-island product that offers our market diverse experiences from bone-fishing in South Caicos and diving in Grand Turk along the third largest barrier reef in the world to soaking in secluded and breathtaking beaches in Middle Caicos and exploring underground caves in North Caicos, these islands are the perfect getaway for our affluent, multi-generational market. I am proud of the strides we continue to make,” she said.

With the increase in visitors, the Turks and Caicos Islands has also topped the region in accommodation occupancy. The Turks and Caicos Islands registered occupancy levels of 87 percent for the first months of 2024 with Saint Lucia at 85.5 percent and Aruba at 84.3 percent.

Data from STR shows that overall annual occupancy in the region was up by two percentage points in 2023 over 2019 at 65.6 percent, while the 74.3 percent for March 2024 was above the 70.9 percent of March 2023.

The Turks and Caicos Islands registered the second highest Average Daily Rates (ADR) in March 2024 with US$1,614, a decrease of -5.21 percent from March 2023.

The island topped the region in revenue per available room (RevPAR) in March 2024 with US$1,404.42, a 6 percent increase over March 2023.

Stacy Cox, CEO of the Turks and Caicos Hotels and Tourism Association (TCHTA) said the performance of the hotel sector is a testimony to the strength of the destination and the marketing efforts of hoteliers.

“Our hoteliers continue to invest in marketing and promotion efforts not just for their properties but the destination. We are continually improving our products to ensure our guests enjoy a luxury experience and we have seen that pay off with the acceptance of eight properties into the Virtuoso portfolio in 2023 and the four-star rating designation for four properties by Forbes earlier this year. With several new properties coming on stream in the coming months and year, we are assured that the Turks and Caicos Islands will remain the premier destination of choice for our market,” she said.