In Central and South America, hotel occupancy declined 73% to 15.3% in May. ADR dropped 34.3% to $54.17 and RevPAR fell 82.2% to $8.31.
Reflecting the impact of the COVID-19 pandemic, the Central/South America hotel industry reported historic performance lows during May 2020, according to data from STR.
U.S. dollar constant currency, May 2020 vs. May 2019
• Occupancy: -73.0% to 15.3%
• Average daily rate (ADR): -34.3% to US$54.17
• Revenue per available room (RevPAR): -82.2% to US$8.31
The absolute occupancy, ADR and RevPAR levels were the lowest for any May in STR’s Central/South America database.
Local currency, May 2020 vs. May 2019
• Occupancy: -88.4% to 6.7%
• ADR: -30.8% to COP183,331.93
• RevPAR: -92.0% to COP12,253.20
Occupancy was virtually flat in comparison with April. Both the occupancy and RevPAR levels were the lowest for any May in STR’s Colombia database.
• Occupancy: -38.9% to 39.9%
• ADR: -48.6% to PEN214.74
• RevPAR: -68.6% to PEN85.66
The absolute levels in the three key performance metrics were the lowest for any May in STR’s Peru database. Occupancy was slightly higher than April, while ADR was marginally lower.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.