Hotels in the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to September 2015 data compiled by STR, Inc. and STR Global.
Compared to September 2014, the Americas region reported a 3.0% increase in occupancy to 67.6%; average daily rate was up 5.0% to US$121.89; and revenue per available room increased 8.1% to US$82.44.
Performance of featured countries for September 2015 (local currency, year-over-year comparisons):
Colombia saw occupancy (-0.7% to 61.3%) remain nearly flat. However, the country reported double-digit increases in ADR (+13.0% to COP262,231.00) and RevPAR (+12.2% to COP160,669.50). Rate drove RevPAR performance for the month, while occupancy was affected by supply growth (+9.1%) outpacing demand (+8.4%).
Costa Rica experienced increases in occupancy (+8.7% to 50.3%) and RevPAR (+9.2% to CRC27,696.45). ADR (+0.5% to CRC55,064.47) in the country went nearly unchanged. STR Global analysts note a 12.2% increase in demand in the country as well as a 79.2% increase in group occupancy for the month.
Panama reported a 5.4% increase in occupancy to 50.4% but decreases in ADR (-6.6% to PAB95.91) and RevPAR (-1.5% to PAB48.38). Strong demand growth (+10.6%) boosted occupancy in the country, but a drop in rate led to the overall decrease in RevPAR. The 50.4% absolute occupancy level was the highest for a September in Panama since 2012.
Performance of featured markets for September 2015 (local currency, year-over-year comparisons):
Bogotá, Colombia, experienced a 2.1% decrease in occupancy to 60.2%. However, the market reported double-digit growth in ADR (+18.9% to COP299,331.48) and RevPAR (+16.4% to COP180,053.38). The capital of Colombia mirrored the nation’s performance for the month.
Buenos Aires, Argentina, reported a decline in occupancy (-3.4% to 62.1%) but increases in ADR (+10.0% to ARS1,178.70) and RevPAR (+6.2% to ARS732.55). ADR drove RevPAR performance for the month as a 3.1% drop in demand hurt occupancy.
São Paulo, Brazil, saw decreases in occupancy (-8.9% to 62.1%) and RevPAR (-4.1% to BRL215.04). ADR in the market was up 5.2% to BRL346.08. The absolute occupancy level in the market was the lowest for September since 2009. ADR increased due to inflation, according to STR Global analysts.
Additional performance data
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