The Hotel Industry in the Central/South America Region Reports Positive Results for January 2018
Argentina posts highest January occupancy since 2008 – Costa Rica registers significant performance growth – Peru shows double-digit occupancy growth but lower rates
Hotels in the Central/South America region reported growth across the three key performance metrics, according to January 2018 data from STR.
U.S. dollar constant currency, January 2018 vs. January 2017
- Occupancy: +7.7% to 56.2%
- Average daily rate (ADR): +5.6% to US$106.24
- Revenue per available room (RevPAR): +13.7% to US$59.74
Local currency, January 2018 vs. January 2017
- Occupancy: +7.4% to 58.2%
- ADR: +24.7% to ARS2,259.51
- RevPAR: +34.0% to ARS1,314.49
The absolute occupancy level was the highest for any January in Argentina since 2008. The month also was the fourth in a row with ADR growth above 20%. Significant year-over-year increases in room rates have remained consistent for several years due to inflation. Also helping performance is a lack of significant supply growth in the country.
- Occupancy: +5.9% to 77.3%
- ADR: +18.4% to CRC101,098.66
- RevPAR: +25.4% to CRC78,179.83
Occupancy reached its highest level for any January in STRs Costa Rica database. STR analysts attribute the performance to a stable supply level and a positive economic outlook in the country.
- Occupancy: +15.1% to 52.9%
- ADR: -2.8% to PEN395.39
- RevPAR: +11.9% to PEN209.03
The occupancy level was the highest for a January in Peru since 2013, while ADR dropped to its lowest point since 2014. While the occupancy figure was higher than the January average in the country, the year-over-year growth rate was boosted by a comparison with a low occupancy month in 2017.
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