The market, read through three geographic layers, from the widest frame to the market itself.
Prepared for Chogogo Dive & Beach Resort Curacao & Bonaire (Gertrude Schellevis-Hanselaar, Directie; Hans Schellevis), by enquiry of 2026-09-14 through John Fareed · issued 2026-09-14
The cascade below descends from the widest frame to the property itself, and it carries the one layer this engagement elected: Market. A layer outside that election is not in this dossier and prints nothing here.
The market's own trailing twelve to September 30, 2024 close at 66.0% occupancy and $192.11 average daily rate, for $127.05 revenue per available room.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: the twelve months to September 30, 2024. Geography: Bonaire, Sint Eustatius and Saba.
A market is not one thing, so this dossier is not one number. It descends through three geographic layers, each one a smaller frame around the same question, and each layer names its own source and period. Where a layer is complete it is shown in full. Where a source could not be reached, the report says so in place rather than leaving a blank or filling it with an estimate.
The layers this dossier descends through, widest to narrowest, and what each one resolves to in this edition. Each names its own source and period where its chapter reports it.
One thing to be clear about before you read on. This edition carries hotel performance at one geography, the market itself. The Bonaire, Sint Eustatius and Saba market carries every hotel in it, on its own layer, from the licensed panel. Period: this panel is measured through September 2024. No competitive set trend was ordered, so there is no second period to reconcile it against.
The Region layer, the continental peer pool, is not drawn in this edition: this country peers against itself, so the country layer is the widest frame the cascade has here. That is the ladder, not an omission.
The first layer is Country. This market is a country in its own right and the panel measures it whole, so the peer markets are the widest frame this dossier carries: a national layer above it would name the same place a second time. That is the cascade this edition draws, not an omission.
The fourth layer is Submarket. The record declares no submarket: this market is measured whole, at its own grain, so there is no finer geography to descend to. That is the cascade this edition draws, not an omission.
The sixth layer is Subject Property. A market order with no subject hotel attached, so this layer collapses out. That is the cascade this edition draws, not an omission.
No room-night contribution is attributed to any one of them.
The record for this market names its air traffic measure as origin and destination passengers and supplies nothing further, identifying no facility, no city of location and no distance from the subject. It also holds no series window, no count at the latest full year of any window, no recovery reading against a first year and no rate of change, so this passage states no air traffic figure. No peer count, no peer basis and no standing within a cohort were offered, and we state none.
In our view a count reported on the origin and destination passengers basis is evidence only of the trip volume that label states was counted, on that label's own scope and no wider, and it is not in itself a measure of lodging demand in this market. We read the absence of the facility's identity and of its counts as leaving air service unavailable as a demand signal in this analysis, and we draw no inference from it.
This passage is standard text whose wording is settled. What it states about this property has not been provided, so it is not printed here and nothing in it is assumed.
Each of these is carried on the register of gaps in the addenda.
Bonaire, Sint Eustatius and Saba is a market in its own right, measured whole by the panel, so its peers are the island markets its record declares: the ones it competes with for the same visitors and the same capital.
Peers are screened on two measures against this market, room supply and twelve-month average daily rate, and a market outside either band is not in the pool. Every ratio is shown below so the membership can be checked rather than taken on trust. Ranked by rate, Bonaire, Sint Eustatius and Saba is the lowest of the 17 by rate.
Every market in the pool ranked by what a room sold for over the last twelve months, with this market drawn in the accent so its place in the order can be found without counting rows.
Bonaire, Sint Eustatius and Saba at $187 sits lowest of 17 on twelve-month average daily rate; the pool runs from $187 (Bonaire, Sint Eustatius and Saba) to $1,589 (Anguilla).
Peers are matched on room supply and on pricing, and each measure is stated in its own unit and as a multiple of this market, so size and rate read on one line.
| Market | Average daily rate | Rate multiple | Rooms per month | Rooms multiple | RevPAR |
|---|---|---|---|---|---|
| Bonaire, Sint Eustatius and Saba | $187 | 1.00x | 50,685 | 1.00x | $127 |
| Dominican Republic | $223 | 1.19x | 2,277,942 | 44.94x | $155 |
| Curacao | $237 | 1.27x | 156,550 | 3.09x | $172 |
| Mexican Caribbean | $257 | 1.38x | 2,215,136 | 43.70x | $183 |
| Puerto Rico | $290 | 1.55x | 492,652 | 9.72x | $212 |
| Grenada | $326 | 1.75x | 52,483 | 1.04x | $209 |
| Barbados | $343 | 1.84x | 226,300 | 4.46x | $217 |
| Jamaica | $356 | 1.91x | 771,249 | 15.22x | $266 |
| Aruba | $416 | 2.23x | 240,033 | 4.74x | $295 |
| Bahamas | $456 | 2.44x | 427,211 | 8.43x | $334 |
| Saint Lucia | $494 | 2.65x | 113,460 | 2.24x | $374 |
| Saint Kitts and Nevis | $505 | 2.71x | 59,148 | 1.17x | $147 |
| Bermuda | $578 | 3.10x | 49,662 | 0.98x | $353 |
| Antigua and Barbuda | $661 | 3.54x | 124,961 | 2.47x | $427 |
| Cayman Islands | $687 | 3.68x | 114,607 | 2.26x | $426 |
| Turks and Caicos Islands | $1,269 | 6.80x | 109,120 | 2.15x | $871 |
| Anguilla | $1,589 | 8.51x | 28,644 | 0.57x | $671 |
Source. CoStar hospitality panel, licensed. Period: twelve months to May 2024. Retrieved September 14, 2026.
Revenue per available room for this market and each of its peers on one scale, so a reader can see who came back first after the collapse and who is still below where they started.
Every series in US dollars, twelve-month rolling revenue per available room, January 2018 to September 2024.
Switch any line on or off. The scale is fixed across every series, so hiding one never rescales the others.
Bonaire, Sint Eustatius and Saba twelve-month RevPAR ran from $54 in January 2018 to $127 in September 2024, up over the period.
Turks and Caicos Islands led the pool in April 2024 at $856; in September 2024 Turks and Caicos Islands leads at $866. Bonaire, Sint Eustatius and Saba is 17th-highest of 17, $739 behind Turks and Caicos Islands ($127 against $866).
Against its closest peer on rate, Dominican Republic. Dominican Republic was ahead in January 2018 and is still ahead in September 2024, by $32 ($159 against $127).
The 2020 collapse and the recovery that followed are visible in every line, which is the point: it shows which markets came back first and which are still below where they started.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: monthly, January 2018 to September 2024. Retrieved September 14, 2026.
The public record did not answer 1 question at this layer.
What the licensed panel reports for every hotel in this geography over the twelve months it was last measured.
Twelve months to September 30, 2024. Source: CoStar hospitality panel, licensed, via the Horwath HTL market analytics database.
These figures cover every hotel in the Bonaire, Sint Eustatius and Saba market, which is what a market layer is for. A competitive set, when one is ordered, sits on its own layer and answers a different question. Period: this panel is measured through September 2024. No competitive set trend was ordered, so there is no second period to reconcile it against.
How full the market ran and what it charged, month by month on a running twelve, so the two halves of revenue per available room can be watched moving against each other.
The layer, the trailing twelve months
Occupancy and average daily rate over the trailing twelve months, Bonaire, Sint Eustatius and Saba
Two aligned panels over one shared time axis. Each panel keeps its own scale, so the heights are read down a panel and never across them.
The Bonaire, Sint Eustatius and Saba market occupancy over the trailing twelve months ran from 56.0% in January 2017 to 66.0% in September 2024, up over the period, peaking at 74.0% in July 2022 and bottoming at 44.0% in November 2017. The Bonaire, Sint Eustatius and Saba market average daily rate over the trailing twelve months ran from $124 in January 2017 to $192 in September 2024, up over the period, bottoming at $116 in November 2018. The Bonaire, Sint Eustatius and Saba market RevPAR over the trailing twelve months ran from $69 in January 2017 to $127 in September 2024, up over the period, bottoming at $53 in December 2017.
The Bonaire, Sint Eustatius and Saba market occupancy in the month ran from 46% in January 2017 to 45% in May 2024, down over the period, peaking at 84% in February 2019 and bottoming at 28% in August 2017. The Bonaire, Sint Eustatius and Saba market average daily rate in the month ran from $141 in January 2017 to $200 in May 2024, up over the period, peaking at $216 in February 2024 and bottoming at $102 in September 2017.
The heavy line in each panel is the trailing twelve months, which is the level to take away; the pale line beneath it is the same measure month by month, which is where the season shows. The two panels share one time axis and keep their own scales, so a height is read down its own panel and never across to the other.
By class in Bonaire, Sint Eustatius and Saba, twelve months to September 30, 2024: the panel publishes no rows for this market, so the table is not drawn. What is absent is the breakdown, not the market.
The same three measures closed out year by year, so a level can be read against its own calendar rather than against a rolling window.
| Year | Occupancy | Average daily rate | RevPAR |
|---|---|---|---|
| 2018 | 55.3% | $116.93 | $64.64 |
| 2019 | 66.6% | $119.92 | $79.82 |
| 2020 (three months) | 60.2% | $141.46 | $85.21 |
| 2022 (nine months) | 70.9% | $167.95 | $119.01 |
| 2023 | 61.4% | $177.81 | $109.19 |
| 2024 (five months) | 64.2% | $206.99 | $132.85 |
Annual occupancy is weighted by room supply and rate by rooms sold, so a short month never counts the same as a long one.
The shape of a typical year: each calendar month averaged across the complete years the panel reports, so a strong month and a weak one can be told apart from a trend.
The Bonaire, Sint Eustatius and Saba market occupancy peaks in February at 77% and bottoms in August at 48%, a spread of 29 points across the 2018 to 2023 average; rate peaks in December at $156 and bottoms in September at $124.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: monthly, January 2017 to September 2024. Retrieved September 14, 2026. Geography: Bonaire, Sint Eustatius and Saba.
Bonaire, Sint Eustatius and Saba, each month read as the twelve months ending at it, over every month the panel holds. A single month carries the season it falls in; the twelve months to a date carries the market, and it is the basis the income approach carries forward.
Occupancy, the trailing twelve months at each point. Monthly, January 2017 to September 2024.
Switch any line on or off. The scale is fixed across every series, so hiding one never rescales the others.
Over the seven years to September 2024, Bonaire, Sint Eustatius and Saba occupancy ran from 56.0% in January 2017 to 66.0% in September 2024, up over the period, peaking at 74.0% in July 2022 and bottoming at 44.0% in November 2017.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: monthly, January 2017 to September 2024. Retrieved September 14, 2026.
The public record did not answer 2 questions at this layer.
The public record did not answer 1 question at this layer.
No competitive set was declared with this order, so none is shown for Bonaire, Sint Eustatius and Saba. A set exists only when it is declared against a subject and its trend run (CoStar or STR) is in the workfile.
Where a set is declared, this layer carries the hotels themselves with rooms, brand, class, age and renovation history; occupancy, average daily rate and RevPAR monthly and by calendar year; the shape of the season; the reporting record of each hotel; and the set plotted against the geography above. The other layers do not depend on it.
Nothing here is estimated in its place. A competitive set inferred from public sources would look like the real thing and would not be, which is a worse outcome than an empty layer that says so.