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November Closes with Strong Performance Across Key Tourism Sectors

Thursday, December 18, 2025 Research

San Juan Cruise Port Expands Capacity Ahead of a Record Season

San Juan Cruise Port welcomed over 191,000 total visitors in November, a 92% increase compared to last year across 76 vessels. Homeporting passengers totaled 61,400, the highest number this year, while transit passengers surpassed 130,000, marking the second-best-performing month this year behind January.

Year-to-date, the Port of San Juan has welcomed over 1.3 million passengers, 8% more than last year and the highest number since 2019.

Over $150 million has already been invested in improvements and modernization of cruise terminals, enabling the port to accommodate large vessels like the Icon of the Seas and Star of the Seas. A $110 million upgrade (part of a total $425 million public-private partnership) includes reinforced piers, a 1,500-ft seawall at the Pan American Pier, upgraded HVAC and restroom facilities, and the installation of new bollards.

Princess Cruises is returning San Juan as a homeport for its Grand Princess, operating alternating 7-night Southern Caribbean itineraries from October 2025 to March 2026. The program includes 26 departures, each carrying approximately 3,100 passengers and 1,500 crew members, and is projected to generate around $20.9 million in economic impact.

San Juan Cruise Port expects a strong 2025–26 winter season with near-record passenger volumes and significant infrastructure upgrades completed or underway. Over 30,000 cruise passengers are expected to coincide with the San Sebastián Street Festival in Old San Juan. These arrivals will take place between January 16 and January 19, 2025, when six transit cruise ships will dock and seven ships continue homeport operations.

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SJU sees moderate declines but record growth in international markets

In November, Aerostar reported 522,000 passenger arrivals at Luis Muñoz Marín International Airport in San Juan (SJU), reflecting a 2.7% decrease compared to the same month last year—approximately 14,000 fewer passengers. These results continue a two-month downward trend, with decreases in arrivals from North America (-4%) and the Caribbean (-3%). In contrast, combined arrivals from Europe, South America, and Central America reached a record 33,000 (+23%).

JetBlue, the current leader in air capacity to San Juan, recently announced new and expanded service beginning in March from Philadelphia (PHL), Jacksonville, FL (JAX), Norfolk, VA (ORF), Richmond, VA (RIC), and Buffalo, NY (BUF). These launches will increase JetBlue’s nonstop destinations from SJU to 22, with more than 40 daily departures.

Despite recent decreases in arrivals, load factor forecasts from Airline Data Inc. suggest very strong demand for December, pointing to another record year in arrivals at SJU.

More than 600,000 room nights set a new monthly record

The total estimated lodging demand in November, as tracked by STR (Smith Travel Research) and AirDNA, reached a new monthly record of more than 600,000 room nights booked, representing a 10% increase from last year.

Hotels accounted for 350,000 rooms sold in November, a 12% increase compared to the same period last year. The rental market also experienced growth, with a 7% increase, resulting in 250,000 room nights booked.

Estimated STR hotel data suggest a 10% increase in hotel occupancy in November (from 66% to 72%). While actual November data are still being processed, reservations captured by Amadeus Hospitality indicate that the increase in hotel occupancy is tied to strong demand across all markets, with a notable rise in the group and business transient segments compared to the same period last year.

Leisure rental demand remains stable; however, the continued expansion of rental market capacity is creating oversupply, with occupancy growth trending approximately 3% below November levels from last year.

Year-to-date, total lodging demand has reached a record 7.4 million room nights, an 8.3% increase from last year, with hotels slightly up (4%) and rentals growing by 13%. The rental market continues to gain share, accounting for 48% of total year-to-date lodging demand.

Puerto Rico’s Lodging Sector Posts Its Strongest November to Date

November lodging revenues neared an estimated $140 million, marking an 8% increase and setting a new monthly record. Hotels contributed $94 million, representing an 8% year-over-year increase and marking the strongest November performance on record. The rental segment also showed healthy growth, generating $46 million, a 6% rise compared to last year.

Year-to-date lodging revenues reached $1.8 billion, an increase of 7.6% compared to last year. Hotel revenues increased by 5%, with an average daily rate of $291, totaling $1.1 billion. Meanwhile, rentals grew by 13%, generating $685 million at an average rate of $193.

November hotel RevPAR (revenue per available room) reached $194 (+6%), a new high, while rental RevPAR was $90 (-4%). Year-to-date, hotel RevPAR stands at $208 (+2%), while rental RevPAR remains flat at $107.

Looking ahead to year-end 2025 and the potential to reach the $2 billion mark in lodging revenues for the first time, Puerto Rico continues to rank among the best places to visit during this time of year (U.S. News & World Report). Travel + Leisure has featured Puerto Rico in its “Best Warm-Weather Holiday Escapes,” Condé Nast Traveler included the Island among “Top Caribbean Holiday Destinations,” and Forbes Travel Guide recommended San Juan for travelers seeking a mix of beach relaxation and cultural immersion during the holidays.