STR Reports Sao Paulo Hotel ADR and RevPAR Reached Record Highs in November

JW Marriott Hotel Sao Paulo

São Paulo’s hotel industry reported its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, helped by several notable events, according to preliminary November data from CoStar

November 2023 (year-over-year % change):

• Occupancy: 71.9% (+5.0%)
• Average daily rate (ADR): BRL749.67 (+20.7%)
• Revenue per available room (RevPAR): BRL539.37 (+26.8%)

The market’s occupancy level was above 70% for just the second time since November 2019.

When looking at daily data, the highest occupancy levels were seen on Wednesday, 8 November (90.4%), the night of a soccer match between São Paulo and Bragantino, and Wednesday, 29 November (90.0%) – the night of the São Paulo vs. Bahia match.

The market also hosted several other key events throughout the month, including UFC Fight Night, the Brazilian Grand Prix (which pushed daily ADR levels above BRL1,000), and Taylor Swift’s Eras Tour.

São Paulo’s daily occupancy levels were above the 50% mark on all but one day – Wednesday, 1 November (46.0%).

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.