Hotel Industry in the Central/South America Region Reports Positive Results for November 2018

Monserrate, Colombia - Photo by Sebastian Seck on Unsplash
Monserrate, Colombia

Bogotá experiences first occupancy increase in three months – São Paulo hotels reach 16 consecutive months of ADR growth

Hotels in the Central/South America region reported positive performance results during November 2018, according to data from STR.

U.S. dollar constant currency, November 2018 vs. November 2017

Central/South America

  • Occupancy: +1.9% to 64.2%
  • Average daily rate (ADR): +17.5% to US$115.66
  • Revenue per available room (RevPAR): +19.8% to US$74.26

Local currency, November 2018 vs. November 2017

Bogotá, Colombia 

  • Occupancy: +3.1% to 69.6%
  • ADR: +2.5% to COP270,787.81
  • RevPAR: +5.7% to COP188,469.30

After three consecutive months of occupancy declines, Bogotá hotels experienced an increase in occupancy that was driven by a 7.6% jump in demand (room nights sold).

São Paulo

  • Occupancy: +2.5% to 71.3%
  • ADR: +10.0% to BRL385.77
  • RevPAR: +12.8% to BRL274.89

São Paulo hotels have now posted 16 consecutive months of ADR growth. The absolute value in the metric was also the highest for any November in STR’s São Paulo database. STR analysts partially attribute the jump in rates to the depreciation of the Brazilian Real against the U.S. dollar.

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