LONDON and HENDERSONVILLE, Tennessee—Hotels in the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to June 2015 data compiled by STR, Inc. and STR Global.
Compared to June 2014, the Americas region reported a 2.1% increase in occupancy to 72.6%, a 4.7% increase in average daily rate to US$122.12 and a 6.9% increase in revenue per available room to US$88.60.
Performance of featured countries for June 2015 (local currency, year-over-year comparisons):
Argentina recorded double-digit growth in each of the three key performance metrics: occupancy (+12.4% to 54.1%), ADR (+15.6% to ARS1,034.67) and RevPAR (+30.0% to ARS559.27). According to STR Global analysts, a high inflation rate has led to a 13.0% year-over-year increase in year-to-date ADR. ADR in Argentina has grown in year-over-year comparisons for 33 consecutive months.
Chile experienced the largest year-over-year occupancy increase (+20.3% to 66.7%) for any of the key countries in the Americas region. ADR in Chile was also up 31.4% to CLP101,184.23, and RevPAR increased 58.1% to CLP67,536.97. From 11 June to 4 July, the country played host to Copa América 2015.
Brazil reported decreases in the three key performance measurements: occupancy (-6.8% to 57.3%), ADR (-36.3% to BRL276.54) and RevPAR (-40.6% to BRL158.48). Brazil’s performance reflects difficult-to-match comparisons from the same period in 2014, when the country hosted the FIFA World Cup.
Peru saw a 4.1% rise in occupancy to 66.1% and double-digit increases for ADR (+12.1% to PEN447.39) and RevPAR (+16.7% to PEN295.87).
Performance of featured markets for June 2015 (local currency, year-over-year comparisons):
Buenos Aires, Argentina, recorded double-digit increases in the three key performance metrics. Occupancy in the market increased 14.2% to 56.6%; ADR was up 13.1% to ARS1,142.96; and RevPAR rose 29.1% to ARS646.63. The market hosted the Argentina Hockey World League Semi-Final from 3-4 June as well as the Buenos Aires International Motor Show from 18-28 June.
San Juan, Puerto Rico, reported nearly flat occupancy performance (+0.2% to 82.6%). ADR in the market was up 2.4% to US$157.75, and RevPAR increased 2.7% to US$130.24. STR Global analysts noted the above 80% occupancy level in San Juan despite on-going economic woes in Puerto Rico.
Santiago, Chile, experienced a 23.8% increase in occupancy to 70.6%. ADR in the market was up 38.7% to CLP111,598.63, and RevPAR increased 71.7% to CLP78,752.68. Year-to-date RevPAR in Santiago has increased 1.6% year-over-year as hotel performance has fluctuated.