Hotel Industry in the Central/South America Region Reports 10.7 Percent RevPAR Growth for August 2018

Aerial view of Rio de Janeiro - Photo by Agustín Diaz on Unsplash
Rio de Janeiro hotels post ADR and RevPAR growth for fourth consecutive month

Rio de Janeiro posts ADR and ADR growth for fourth consecutive month – Panama City experiences lowest August occupancy

Hotels in the Central/South America region reported positive performance results during August 2018, according to data from STR.

U.S. dollar constant currency, August 2018 vs. August 2017

Central/South America

  • Occupancy: +2.3% to 59.3%
  • Average daily rate (ADR): +8.2% to US$101.31
  • Revenue per available room (RevPAR): +10.7% to US$60.10

Local currency, August 2018 vs. August 2017

Rio de Janeiro

  • Occupancy: +19.6% to 52.3%
  • ADR: +5.7% to BRL341.80
  • RevPAR: +26.3% to BRL178.80

Hotel performance in Rio de Janeiro was driven by a 13.9% increase in demand (room nights sold). ADR and RevPAR grew for the fourth consecutive month. STR analysts note that year-over-year percentage changes were also helped by a comparison with a month in 2017 that included double-digit performance declines.

Panama City

  • Occupancy: -10.0% to 46.1%
  • ADR: +2.6% to PAB88.68
  • RevPAR: -7.6% to PAB40.89

The absolute occupancy and RevPAR levels were the lowest for any August on record in Panama City. A continued drop in demand paired with consistent growth in supply has led to negative performance results.

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