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STR: Central/South America hotel performance for February 2017

March 25, 2017 Hotel Trends No Comments Email Email

Hotels in the Central/South America region reported negative performance results in February 2017, according to data from STR.

U.S. dollar constant currency, year-over-year comparisons:

Central/South America regionhttp://www.itcma.com/

  • Occupancy: -2.5% to 55.4%
  • Average daily rate (ADR): -7.0% to US$102.56
  • Revenue per available room (RevPAR): -9.3% to US$56.81

Local currency, year-over-year comparisons:

Argentina

  • Occupancy: +3.9% to 59.5%
  • ADR: +5.6% to ARS1,742.39
  • RevPAR: +9.7% to ARS1,036.16

Argentina’s strong February performance was primarily driven by hotels in the Upscale and Upper Midscale classes (RevPAR: +14.3%). STR analysts note that the country’s hotel market is regaining stability after the devaluation of the Argentinian peso in 2016.

Colombia

  • Occupancy: -5.1% to 59.7%
  • ADR: -1.1% to COP280,127.96
  • RevPAR: -6.1% to COP167,203.22

February marked Colombia’s third consecutive month of RevPAR declines, which was mainly the result of a 1.6% drop in demand coupled with a 3.7% increase in supply. Looking at performance by class, Midscale and Economy was the only segment to post growth (RevPAR: +6.5%). STR analysts suggest this is reflective of a more price-sensitive consumer base.

Peru

  • Occupancy: -3.6% to 54.4%
  • ADR: -10.6% to PEN404.95
  • RevPAR: -13.8% to PEN220.17

In comparison with a particularly strong ADR last month, hotels in Peru posted sharp declines. Performance was down for most key markets, with the exception of Cusco, which posted occupancy growth of 4.4%, countering a 3.1% decline in ADR.

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