The seventh-largest room base of the 15 markets it competes with for capital, at the second-lowest rate.
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
A beach club on the island's south coast from the air
Market Highlights
The cascade below descends from the widest frame to the property itself, and it carries the two layers this engagement elected: Peer markets, Market. A layer outside that election is not in this dossier and prints nothing here.
Peer markets
Among the peer markets the panel reports a full trailing twelve for at July 31, 2026, this one ranks 7 by rooms available, and the pool it is read against is the one this market's record declares.
Markets in the country's panel
1
Where this market ranks
1
Peers read at
July 31, 2026
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: the pool read at July 31, 2026.
Market
Curaçao
The market's own trailing twelve to July 31, 2026 close at 80.5% occupancy and $277.72 average daily rate, for $223.68 revenue per available room.
Occupancy, trailing twelve
80.5%
Average daily rate, trailing twelve
$277.72
Revenue per available room, trailing twelve
$223.68
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: the twelve months to July 31, 2026. Geography: Curaçao.
The harbour entrance and the bridge into Willemstad
The Area and its Economy
How to read this
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.
Layer 2 · Peer markets
National peer pool
Layer 3 · Market
Curaçao
Layer 5 · Comp Set
Comp Set
One thing to be clear about before you read on. This edition carries hotel performance at one geography, the market itself. The Curaçao market carries every hotel in it, on its own layer, from the licensed panel. Period: this panel is measured through July 2026. 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.
Principal demand generators
No room-night contribution is attributed to any one of them.
Air service
The record supplied for this section names no air facility for this market, no city, and no distance from the subject, and it holds no series of years and no count at the latest full year of any window.
The single item it does hold is the label of the measure, origin and destination passengers, which states what such a count would be of and nothing about its level.
On that label alone we can report no volume, no standing of a latest year against the first year of a window, no rate of change across it, and no peer cohort or position within one.
In our view, air facility traffic is not yet evidence of the level or the direction of lodging demand in this market, because the count and its window are absent from the record before us.
We read the label as fixing only the scope of a count still to be obtained, and we would revise this section on receipt of the series.
Not provided for this assignment
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.
Shallow water off a west-coast bay
The Lodging Market
2
Peer markets
National peer pool
The markets this one competes with for capital, matched on size and on pricing.
Curaçao 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. The strict band returned too few peers, so the search was widened; a loose comparison is stated as one rather than passed off as tight.
Peers are screened on two measures against this market: room supply between 0.22x and 4.5x of it, and twelve-month average daily rate between 0.5x and 2x of it. A market outside either band is not in the pool, so every multiple below is taken against a market of comparable scale and comparable price. Every ratio is shown below so the membership can be checked rather than taken on trust. Ranked by rate, Curaçao is the second-lowest of the 15 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.
Curaçao at $278 sits second-lowest of 15 on twelve-month average daily rate; the pool runs from $254 (Dominican Republic) to $1,879 (Anguilla).
The peer pool, market by market
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
Dominican Republic
$254
0.92x
2,499,592
14.98x
$180
Curaçao
$278
1.00x
166,842
1.00x
$224
Puerto Rico
$303
1.09x
497,674
2.98x
$227
Jamaica
$328
1.18x
594,952
3.57x
$205
Grenada
$367
1.32x
51,491
0.31x
$208
Barbados
$410
1.48x
229,555
1.38x
$260
Bahamas
$470
1.69x
393,793
2.36x
$341
Aruba
$503
1.81x
274,536
1.65x
$372
Saint Kitts and Nevis
$546
1.96x
58,280
0.35x
$177
Saint Lucia
$617
2.22x
125,643
0.75x
$416
Cayman Islands
$732
2.64x
117,614
0.70x
$453
British Virgin Islands
$1,105
3.98x
27,931
0.17x
$550
Antigua and Barbuda
$1,107
3.99x
122,388
0.73x
$705
Turks and Caicos Islands
$1,212
4.36x
123,039
0.74x
$745
Anguilla
$1,879
6.77x
28,861
0.17x
$1,049
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: twelve months to July 2026. Retrieved September 14, 2026.
How Curaçao has tracked its peers
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 July 2026.
Switch any line on or off. The scale is fixed across every series, so hiding one never rescales the others.
Curaçao twelve-month RevPAR ran from $100 in January 2018 to $224 in July 2026, up over the period, bottoming at $38 in March 2021.
Turks and Caicos Islands led the pool in April 2025 at $801; in September 2025 Anguilla leads at $766. Curaçao is 13th-highest of 15, $573 behind Anguilla ($192 against $766).
Against its closest peer on rate, Dominican Republic. Curaçao was ahead in January 2018 and is still ahead in July 2026, by $44 ($224 against $180).
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 July 2026. Retrieved September 14, 2026.
Findings
Curaçao at $278 sits second-lowest of 15 on twelve-month average daily rate; the pool runs from $254 (Dominican Republic) to $1,879 (Anguilla).
Curaçao twelve-month RevPAR ran from $100 in January 2018 to $224 in July 2026, up over the period, bottoming at $38 in March 2021.
Turks and Caicos Islands led the pool in April 2025 at $801; in September 2025 Anguilla leads at $766. Curaçao is 13th-highest of 15, $573 behind Anguilla ($192 against $766).
Against its closest peer on rate, Dominican Republic. Curaçao was ahead in January 2018 and is still ahead in July 2026, by $44 ($224 against $180).
What the record did not answer
The public record did not answer 1 question at this layer.
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.
What has changed
First edition
3
Market
Curaçao
The market itself: hotel performance, the economy that fills the rooms, air service, and what is happening on the ground right now.
Performance in Curaçao, the trailing twelve months
What the licensed panel reports for every hotel in this geography over the twelve months it was last measured.
Occupancy
80.5%
Average daily rate
$278
Revenue per available room
$224
Twelve months to July 31, 2026. Source: CoStar hospitality panel, licensed, via the Horwath HTL market analytics database.
These figures cover every hotel in the Curaçao 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 July 2026. 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, Curaçao
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 Curaçao market occupancy over the trailing twelve months ran from 67.3% in January 2017 to 80.5% in July 2026, up over the period, bottoming at 27.2% in March 2021. The Curaçao market average daily rate over the trailing twelve months ran from $145 in January 2017 to $278 in July 2026, up over the period, bottoming at $138 in May 2021. The Curaçao market RevPAR over the trailing twelve months ran from $98 in January 2017 to $224 in July 2026, up over the period, bottoming at $38 in March 2021.
Month by month in Curaçao
The Curaçao market occupancy in the month ran from 77% in January 2017 to 79% in July 2026, up over the period, peaking at 89% in February 2026 and bottoming at 2% in April 2020. The Curaçao market average daily rate in the month ran from $170 in January 2017 to $286 in July 2026, up over the period, peaking at $328 in February 2026 and bottoming at $107 in May 2020.
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 Curaçao, twelve months to July 31, 2026
Occupancy, average daily rate and revenue per available room are stated for each chain scale over the twelve months the panel last published, so every scale is read on one window.
Class
Occupancy
Average daily rate
RevPAR
Luxury
81.7%
$323.30
$263.96
Upper Upscale
83.4%
$295.51
$246.43
Upscale
69.5%
$173.28
$120.46
By calendar year in Curaçao
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
2021
51.1%
$173.04
$88.50
2022
69.5%
$207.37
$144.12
2023
71.7%
$225.10
$161.45
2024
71.4%
$244.42
$174.62
2025
77.2%
$261.29
$201.59
2026 (seven months)
82.8%
$293.13
$242.81
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 the year in Curaçao, average 2023 to 2025
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 Curaçao market occupancy peaks in February at 80% and bottoms in May at 66%, a spread of 14 points across the 2023 to 2025 average; rate peaks in December at $281 and bottoms in September at $219.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: monthly, January 2017 to July 2026. Retrieved September 14, 2026. Geography: Curaçao.
Occupancy, the twelve months to each date
Curaçao, 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 July 2026.
Switch any line on or off. The scale is fixed across every series, so hiding one never rescales the others.
Over the nine years to July 2026, Curaçao occupancy ran from 67.3% in January 2017 to 80.5% in July 2026, up over the period, bottoming at 27.2% in March 2021.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database. Period: monthly, January 2017 to July 2026. Retrieved September 14, 2026.
Room supply and demand
The market analytics panel holds no year-end supply and demand rows for this market.
Supply pipeline
What the panel's property table carries for this market at the date of value, one cell per stage, from what is built to what is only proposed.
Existing rooms
5,305
38 hotels
Share of existing rooms
13.9%
Under construction
735
3 hotels
Final planning
230
2 hotels
Proposed
0
0 hotels
735 rooms are under construction against 5,305 existing, 13.9% of the stock; a further 230 rooms in final planning and 0 rooms in proposed, each stage stated on its own because they stand at different distances from opening and not one of them is supply yet.
Every hotel the property record carries under construction, in final planning or proposed, with the stage it stands at and how far it sits from the centre of this market.
Hotel
Rooms
Flag
Class
Status
Begun
Submarket
From centroid
TUI BLUE Curacao
330
TUI BLUE
Upper Upscale
Under Construction
Jul 2024
Curaçao
-
The Pyrmont Curaçao, an Autograph Collection All-Inclusive Resort – Adults Only
305
Autograph Collection
Upper Upscale
Under Construction
Apr 2023
Curaçao
-
DoubleTree Resort by Hilton Curacao
100
DoubleTree by Hilton
Upscale
Under Construction
Mar 2026
Curaçao
-
Aiden by Best Western Bapor Kibra - Curacao
150
Aiden by Best Western
Upscale
Final Planning
Sep 2026
Curaçao
-
Ceòra, a Luxury Collection Resort, Curaçao
80
Luxury Collection
Luxury
Final Planning
Sep 2026
Curaçao
-
Under construction is the figure the projection consumes; final planning and proposed are shown so the reader can see what might follow, and are not added to supply. A construction date is the vendor’s own; an opening date is absent for most.
Source. CoStar hospitality panel, licensed, via the Horwath HTL market analytics database, property table. Period: construction status at build. Retrieved September 14, 2026.
Outlook
The year-end supply and demand rows did not return, so no forward read is set.
The metropolitan economy, the industry mix and commercial property
Curaçao lies outside the United States statistical system, so the metropolitan economy, the industry mix and the commercial property exhibits this chapter carries for a United States market do not apply here. The market's own performance, its peers and its pipeline stand on the panel and the census.
Airports serving the market
The panel lists no airport against this market.
The lodging market, exhibit by exhibit
This engagement declares no record for this exhibit, so it is not drawn and nothing is estimated in its place.
What this report does not carry
This report does not carry passenger volumes at the gateway airport, the year-on-year direction, the international share and the national rank; the national travel backdrop, average daily travellers screened; the researched record for this market: dated findings, on-the-record commentary and the questions the public record could not answer. Each is named where it would have appeared, and nothing is estimated in its place.
Findings
The Curaçao market occupancy over the trailing twelve months ran from 67.3% in January 2017 to 80.5% in July 2026, up over the period, bottoming at 27.2% in March 2021.
The Curaçao market average daily rate over the trailing twelve months ran from $145 in January 2017 to $278 in July 2026, up over the period, bottoming at $138 in May 2021.
The Curaçao market RevPAR over the trailing twelve months ran from $98 in January 2017 to $224 in July 2026, up over the period, bottoming at $38 in March 2021.
The Curaçao market occupancy in the month ran from 77% in January 2017 to 79% in July 2026, up over the period, peaking at 89% in February 2026 and bottoming at 2% in April 2020.
The Curaçao market average daily rate in the month ran from $170 in January 2017 to $286 in July 2026, up over the period, peaking at $328 in February 2026 and bottoming at $107 in May 2020.
The Curaçao market occupancy peaks in February at 80% and bottoms in May at 66%, a spread of 14 points across the 2023 to 2025 average; rate peaks in December at $281 and bottoms in September at $219.
Over the nine years to July 2026, Curaçao occupancy ran from 67.3% in January 2017 to 80.5% in July 2026, up over the period, bottoming at 27.2% in March 2021.
735 rooms are under construction against 5,305 existing, 13.9% of the stock; a further 230 rooms in final planning and 0 rooms in proposed, each stage stated on its own because they stand at different distances from opening and not one of them is supply yet.
What the record did not answer
The public record did not answer 1 question at this layer.
Room supply and demand. The market analytics panel holds no year-end supply and demand rows for this market.
4
Submarket
The record declares no submarket: this market is measured whole, at its own grain, so there is no finer geography to descend to.
The submarket layer
The record declares no submarket: this market is measured whole, at its own grain, so there is no finer geography to descend to.
What the record did not answer
The public record did not answer 1 question at this layer.
The record declares no submarket: this market is measured whole, at its own grain, so there is no finer geography to descend to.
5
Comp Set
No subject, no competitive set. Awaiting the CoStar run: a set exists only when one is declared against a subject, and none is inferred from peers or panels.
No competitive set in this edition
No competitive set was declared with this order, so none is shown for Curaçao. 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.
Penetration
Occupancy, rate and revenue per available room indices of a subject against its competitive set, by fiscal year and by month against a 100 line, need a trading subject and a declared set. No subject is declared for this edition, and an index is a subject measured against a set, and no competitive set was elected for this engagement. So no index is shown, and none is estimated.
