Hotels in Central and South America raised occupancy 0.9% to 56.5% in January, and a 2.8% ADR increase to $91.57 drove RevPAR up 3.7% to $51.75.
Hotels in the Central/South America region reported positive performance results during January 2020, according to data from STR.
U.S. dollar constant currency, January 2020 vs. January 2019
- Occupancy: +0.9% to 56.5%
- Average daily rate (ADR): +2.8% to US$91.57
- Revenue per available room (RevPAR): +3.7% to US$51.75
Note: Venezuela data was not included in this sample due to currency fluctuations in the country drastically affecting hotel performance figures for all of South America.
Local currency, January 2020 vs. January 2019
• Occupancy: +10.7% to 57.8%
• ADR: +0.5% to US$97.64
• RevPAR: +11.3% to US$56.48
The absolute occupancy level was the highest for any January in Quito since 2015. Supply remained flat, surpassed by a 10.7% jump in demand, driving performance comparisons. Daily data shows that occupancy and RevPAR growth reached double-digits during the Global Forum on Migration and Development Summit Meeting (20-24 January) – the largest increases for the month occurred on 22 January: occupancy (+32.4%), ADR (+18.4%) and RevPAR (+56.7%).
Rio de Janeiro
• Occupancy: +8.9% to 72.3%
• ADR: +8.8% to BRL422.59
• RevPAR: +18.4% to BRL305.63
The absolute occupancy and RevPAR levels were the highest for any month in Rio since August 2016, when the market hosted the Summer Olympics. STR analysts note that January performance marks a strong start to the year and shows signs that the market may recover in 2020.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com.