Hotels in the Central/South America region reported mixed performance results during October 2018, according to data from STR.
U.S. dollar constant currency, October 2018 vs. October 2017
Central/South America
- Occupancy: -1.6% to 59.2%
- Average daily rate (ADR): +13.1% to US$109.56
- Revenue per available room (RevPAR): +11.3% to US$64.91
Local currency, October 2018 vs. October 2017
Bogotá, Colombia
- Occupancy: -7.8% to 61.0%
- ADR: +3.0% to COP272,088.72
- RevPAR: -5.0% to COP166,049.20
The decline in occupancy came as supply (+4.4%) outpaced demand (-3.7%) for the third consecutive month. STR analysts note that occupancy and ADR levels were higher than usual during the Latin American and Caribbean Agriculture congress (23-26 October).
São Paulo
- Occupancy: -5.2% to 64.2%
- ADR: +4.5% to BRL362.61
- RevPAR: -1.0% to BRL232.71
STR analysts attribute the mixed performance in São Paulo to corporate demand and group events being pushed to September to avoid the election period in October.
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