STR reports hotel performance in July of Central and South America
Bogotá experiences the highest occupancy level in July since 2013.
The performance of São Paulo thrives with the help of multiple events
Hotels in the Central/South America region reported mixed performance results during July 2019, according to data from STR.
U.S. dollar constant currency, July 2019 vs. July 2018
Occupancy: +4.2% to 60.1%
Average daily rate (ADR): -70.9% to US$92.16
Revenue per available room (RevPAR): -69.7% to US$55.36
STR analysts note that the region’s demand continues to grow, pushing occupancy levels higher. However, ADR and RevPAR comparisons with last year are significantly affected by currency fluctuations.
Local currency, July 2019 vs. July 2018
Occupancy: +6.1% to 59.9%
ADR: +2.7% to COP264,017.33
RevPAR: +8.9% to COP158,213.52
The absolute occupancy level, driven by a double-digit increase in demand (+10.9%), was the highest for a July in Bogota since 2013. When looking at daily data, 11-13 July and 17-19 July showed double-digit rises in occupancy, due in part to Agroexpo 2019 (11-21 July).
São Paulo, Brazil
Occupancy: +2.2% to 63.9%
ADR: +11.0% to BRL358.27
RevPAR: +13.5% to BRL228.97
The absolute occupancy level was the highest for a July in São Paulo since 2012, while the ADR level was the highest for the month since 2012. STR analysts note that the largest performance increases occurred during the beginning of the month, likely helped by the final week of Copa América (14 June through 7 July). Double-digit growth was also present on the first two days (23-24 July) of the FIEE International Electric, Electronic, Power and Automation Industry Trade Show.