The Central/South America Hotel Industry Reports Slight Improvement Month over Month, but Low Overall Performance for August 2020

Aguas Calientes, Peru - Unsplash
Each of the three key performance metrics were the lowest for any August in STR’s Peru database.

Hotels in Central and South America fell 66.4% to 20.2% in August as ADR declined 34.7% to $53.66 and RevPAR dropped 78.1% to $10.82.

The Central/South America hotel industry reported slight improvement over the previous month, but low overall performance, according to August 2020 data from STR.

U.S. dollar constant currency, August 2020 vs. August 2019

• Occupancy: -66.4% to 20.2%
• Average daily rate (ADR): -34.7% to US$53.66
• Revenue per available room (RevPAR): -78.1% to US$10.82

The absolute occupancy and RevPAR levels were the highest in the region since March but still the lowest for any August in STR’s Central/South America database. ADR also came in lower than any other August on record in the CSA region.

Local currency, August 2020 vs. August 2019

Peru

• Occupancy: -32.6% to 45.1%
• ADR: -55.6% to PEN187.35
• RevPAR: -70.1% to PEN84.44

Each of the three key performance metrics were the lowest for any August in STR’s Peru database. The occupancy and RevPAR levels were slightly lower than July.

Colombia

• Occupancy: -86.0% to 8.8%
• ADR: -30.2% to COP187,717.22
• RevPAR: -90.2% to COP16,531.91

The country’s occupancy and RevPAR were down from the previous month, while ADR was up slightly.

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 and costargroup.com.