Hotels in the Central/South America Region Report Historic Performance Lows for May 2020

Aguas Calientes, Peru - Unsplash
The absolute levels in the three key performance metrics were the lowest for any May in STR’s Peru database.

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

Colombia

• 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.

Peru

• 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.

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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.