STR reports hotel performance in Central and South America in April 2019
Rates of occupancy, average daily rate and income per available room have decreased
Hotels in the Central America / South America region reported negative performance results during April 2019, according to STR data.
Constant currency in US dollars, April 2019 vs. April 2018
Central / South America
Occupation: -3.2% to 56.6%
Average Daily Rate (ADR): -18.5% to US $ 98.03
Revenue per available room (RevPAR): -21.1% to US $ 55.48
Local currency, April 2019 vs. April 2018
Occupation: + 4.8% to 73.7%
ADR: 14.4% to PEN500.33
RevPAR: + 19.9% to PEN368.96
STR analysts note that the absolute level of ADR was significantly higher than the recent April averages in the market. Demand increased by 6.3% in the month, driven largely by Easter, which increased the occupation of the week before Easter to 86.1% and ADR to PEN613.13.
Occupation: -9.7% to 53.3%
ADR: + 3.0% at COP277,346.88
RevPAR: -7.0% to COP147,834.46
The poor performance was due to a combination of significant growth in supply (+ 4.9%) and lower demand (-5.4%) in the market. According to STR analysts, that fall in demand was largely due to the change of the Easter calendar from April 1, 2018 to April 21, 2019. With more days around the holidays in April this year, the comparisons of performance were made as business demand slows at Easter. . Bogotá is a market that depends to a large extent on business trips.