STR reports hotel performance in May of Central and South America
Hotels in the Central and South America region reported mostly negative performance results during May 2019, according to data from the consultancy
STR reported the hotel performance for May 2019. The STR sample comprises more than 65,000 hotels and 8.8 million hotel rooms worldwide.
Hotels in the Central and South America region reported mostly negative performance results.
Constant currency in US dollars, May 2019 vs. May 2018
Central / South America
Occupation: + 5.6% to 56.7%.
Average Daily Rate (ADR): -44.5% to US $ 92.74
Revenue per available room (RevPAR): -41.4% to US $ 52.56
Local currency, May 2019 vs. May 2018
Occupation: -1.3% to 58.3%
ADR: -5.1% to US $ 94.54
RevPAR: -6.3% to US $ 55.11
Demand in the market rose 4.0% since last May, but a 5.4% increase in supply exerted greater pressure on occupancy and ADR levels, which have remained low in the market since the devastating earthquake in April 2016. The occupancy levels of May 2012-15 were approximately 70% or more each year. Since then, the May occupation has not reached 60%.
San Jose Costa Rica
Occupation: -2.8% to 64.8%
ADR: + 7.3% to CRC59,573.88
RevPAR: + 4.4% at CRC38,605.75
According to STR analysts, the decrease in demand in four of the five months of this year could be due to travelers' perceptions of security and crime in the country. However, that deceleration is not expected to continue; Oxford Economics forecasts a 10.0% growth in international arrivals by 2019.