Recovery of hotel occupancy in Colombia

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Recovery of hotel occupancy in Colombia
Mon May 13, 2019

According to the report issued by Cotelco, in the month of March the agreement reached 56.40%, the figure represents a growth of 0.67% with respect to the same month of the year 2018

 


According to the hotel indicators report issued monthly by the Hotel and Tourism Association of Colombia - Cotelco, hotel occupancy in March was 56.40%, which represented a growth of 0.67 percentage points over the same month of the year 2018; for the first quarter of the year, the national hotel occupancy is 55.56%, a level similar to that observed in the first three months of the previous year.

For Gustavo Adolfo Toro Velásquez, Cotelco's national executive president, "the hotel business in Colombia during the month of March showed a favorable behavior, which made it possible to compensate for the lower performance of the month of February. This fact occurs, in part, thanks to the efforts of the national government to promote tourism destinations both nationally and internationally, through different promotional campaigns. The current economic conditions of the country favor the tourism sector at this time, the dollar that remains at average levels close to 3,200 pesos is an incentive for international tourists, so it is expected that receptive tourism will continue to increase. Similarly, the corporate segment, related to the development of meetings, events and conventions, will also continue to drive greater growth for the following months of the year. Notwithstanding this panorama, we insist on calling the authorities against the application of concrete measures in relation to the control of informality, tending to avoid that the increase generated by the growth of occupation in this segment is diluted, and that, on the contrary, the generation of formal employment and business development is encouraged ".

From the report published by Cotelco, it is evident that Cartagena de Indias was the destination with the highest percentage of occupancy, achieving a level of 76.27% and a growth of 1.87 percentage points with respect to March 2018; Its growth is due to a greater number of tourists that have as destination the Walled City, in addition to the development of different events.
In second place was San Andrés Islas, with 69.68% occupancy and a fall of 17.67 percentage points, which is partly due to the effect of the Holy Week period that in 2018 occurred in the month of March, since it is a destination with a holiday vocation and of sun and beach, it is affected by the seasonality of the seasons. The above added to a process of reversion to the average of its indicators, which has been taking place since the middle of last year.
In the third place of occupation was located the city of Bogota, with a level of 63.37% and a growth of 4.95 percentage points, a fact that was favored by the segment of corporate tourism, events and conventions, added to a greater number of tourists and visitors who arrive at the Capital of the Republic.
Other destinations with growth in the analysis period were: Casanare (+8.63 pp), Cesar (+8.57 pp), Atlántico (+7.07 pp), Valle del Cauca (+3.02 pp), Norte de Santander (+3.02 pp), Risaralda (+1.58 pp), Magdalena (+1.63 pp), Meta (+0.60 pp) and Antioquia (+0.28 pp).
On the other hand, some destinations presented an unfavorable performance in their indicators, as a result of the difference in the dates on which Holy Week occurred, a season that helps the generation of hotel occupancy in these territories: Barrancabermeja (-2.82 pp), Nariño ( 3.13 pp), Huila (-3.24 pp), Santander (-3.45 pp), Caldas (-6.36 pp), Boyacá (-8.79 pp), Tolima and Alto Magdalena (-10.89 pp) and Quindío (-14-09 pp) .
With respect to other indicators of performance of the sector, the publisher report by Cotelco accounts for a 0.2% decrease in the average real rate for the hotel sector, mainly explained by the increase in the supply that the sector has experienced in recent years. . On the other hand, with the highest occupancy achieved, the real income of hotels increased by 2.1% in the reference month, in the same way, the profitability of the sector measured through RevPar increased by 1.8%.

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