Home » Hotel Trends » Currently Reading:

STR: Central/South America hotel performance for August 2016

October 1, 2016 Hotel Trends No Comments Print Print Email Email

Hotels in the Central/South America region recorded mostly positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to August 2016 data from STR.http://www.deevanahotels.com/

Compared with August 2015, the Central/South America region reported nearly flat occupancy (-0.4% to 70.1%). Average daily rate (ADR), however, increased 3.3% to US$125.13, and revenue per available room (RevPAR) grew 2.9% to US$87.69.

Performance of featured countries for August 2016 (local currency, year-over-year comparisons):

Chile experienced a 3.9% increase in occupancy to 65.0%, but an 8.4% drop in ADR to CLP75,177.74 dragged RevPAR down 4.8% to CLP48,879.41. STR analysts cite the ADR comparison base from August 2015, Chile’s highest on record for the month, as the reason behind the decline in the metric. However, the number of rooms sold in the country eclipsed 660,000 for the first August on record, thanks in part to strong tourism. According to the Chilean Undersecretary of Tourism, 5.6 million international visitors are expected to enter Chile for total-year 2016 – which would top last year’s record-high 4.4 million visitors.

Costa Rica posted increases across the key performance metrics. Occupancy in the country rose 9.4% to 63.8%; ADR was up 6.8% to CRC66,406.70; and RevPAR increased 16.8% to CRC42,347.92. Costa Rica has reported 29 consecutive months of RevPAR growth in a 12-month moving average. According to the Costa Rican Tourism Institute, the number of visitor arrivals to the country increased 12.3% during the first half of 2016, and visitor spending reached a record level for the first six months of the year.

El Salvador reported increases in each of the three metrics: occupancy (+7.2% to 67.8%), ADR (+5.3% to US$97.98) and RevPAR (+12.8% to US$66.39). STR analysts note that supply in El Salvador remained flat through the first eight months of 2016 after decreasing slightly (-0.4%) for total-year 2015. In addition, safety in the country is improving with a 13.3% decrease in homicides through mid-September, according to the Policia Nacional Civil.

Performance of featured markets for August 2016 (local currency, year-over-year comparisons):

Rio de Janeiro, Brazil, host to the Summer Olympics, reported substantial increases across the board: occupancy (+26.6% to 76.0%), ADR (+199.2% to BRL1,250.27) and RevPAR (+278.6% to BRL949.85). STR analysts highlight the spike in ADR as the driver of RevPAR. According to officials, the Olympics attracted 1.17 million tourists who spent an average of BRL424 per day.

Quito, Ecuador, saw double-digit declines in occupancy (-20.0% to 46.1%) and RevPAR (-17.1% to US$48.35). ADR was up 3.6% to US$104.93. The market’s occupancy has dropped by double figures each month this year with year-to-date supply growth (+5.3%) significantly outweighing demand (-16.3%). According to STR analysts, economic issues stemming from lower oil prices have hurt hotel performance in Ecuador, and earthquake activity has only worsened matters.

Bogotá, Colombia, recorded growth in occupancy (+8.0% to 60.5%) and RevPAR (+6.0% to COP176,254.77). ADR in the market was down 1.9% to COP291,462.58. Bogotá’s RevPAR has grown in year-over-year comparisons each month in 2016.

Comment on this Article:

Time limit is exhausted. Please reload CAPTCHA.

Platinium Partnership


Elite Partnership Sponsors


Premier Partnership Sponsors


Official Media Event Partner


Global Travel media endorses the following travel publication