STR reports the performance of the hotel industry in Central and South America during Q3 2019
The consultant highlights that Quito has sustained a strong demand and São Paulo has grown thanks to the Copa América held during July
Hotels in the Central/South America region reported mixed performance results during Q3 2019, according to data from STR.
U.S. dollar constant currency, Q3 2019 vs. Q3 2018
Occupancy: +1.9% to 59.7%
Average daily rate (ADR): -42.5% to US$93.10
Revenue per available room (RevPAR): -41.4% to US$55.58
STR analysts note that the region’s ADR and RevPAR comparisons with last year are affected by the fluctuation in Venezuela currency, which occurred during Q3 2018.
Local currency, Q3 2019 vs. Q3 2018
Occupancy: +3.1% to 62.7%
ADR: +0.4% to US$99.00
RevPAR: +3.5% to US$62.11
Demand grew 8.4%, driven by a double-digit rise in the metric during July (+17.3%). STR analysts note that July was the standout month of the quarter, with occupancy and RevPAR producing double-digit growth, +11.5% and +10.6%, respectively.
São Paulo, Brazil
Occupancy: +0.4% to 67.2%
ADR: +9.4% to BRL377.22
RevPAR: +9.9% to BRL253.53
STR analysts note that July was the market’s best performing month of the quarter, helped by Copa America (14 June through 7 July). São Paulo saw increases across each of the three key performance metrics during the month: occupancy (+2.6%), ADR (+10.8%) and RevPAR (+13.6%). Q3 has been the best performing quarter thus far in 2019 in terms of absolute occupancy.