Argentina continues streak of double-digit growth – Ecuador room rates decline for third-straight month Panama demand drives performance
Hotels in the Central/South America region reported positive May 2018 performance results, according to data from STR.
U.S. dollar constant currency, May 2018 vs. May 2017
Central/South America
- Occupancy: +0.6% to 54.4%
- Average daily rate (ADR): +34.3% to US$125.66
- Revenue per available room (RevPAR): +35.1% to US$68.34
Local currency, May 2018 vs. May 2017
Argentina
- Occupancy: +3.1% to 58.2%
- ADR: +50.4% to ARS2,658.65
- RevPAR: +55.1% to ARS1,548.17
The absolute occupancy level was the highest for any May in Argentina since 2008. STR analysts also note that the absolute ADR and RevPAR levels were the highest for any month since November 2016, as the country continues to be affected by strong inflation.
Ecuador
- Occupancy: +7.2 to 61.2%
- ADR: -1.0% to US$91.64
- RevPAR: +6.2% to US$56.06
A double-digit rise in demand (+11.4%) outweighed healthy supply growth (+3.9%) and boosted occupancy levels in Ecuador. ADR, on the other hand, declined for the third consecutive month. STR analysts note that demand primarily rises during the weekdays in the country, while ADR drops during the weekdays but remains stable on weekends.
Panama
- Occupancy: +2.7% to 49.5%
- ADR: +0.6% to PAB91.57
- RevPAR: +3.3% to PAB45.31
Strong performance in Panama was driven by a 4.9% jump in demand, the highest increase in room nights sold for any month since October 2017. STR analysts note that performance was lifted during the PIANC World Congress, which was held from 7-11 May. RevPAR growth during the event was the highest on 9 May (+10.7%), while occupancy growth was the strongest on 11 May (+12.7%).
Download the Global Performance Review
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.