Brazil continues streak of occupancy and room-rate growth – Costa Rica breaks April performance records – Peru room rates increase for first time in 2018
Hotels in the Central/South America region reported positive April 2018 performance results, according to data from STR.
U.S. dollar constant currency, April 2018 vs. April 2017
• Occupancy: +7.4% to 58.5%
• Average daily rate (ADR): +15.1% to US$113.09
• Revenue per available room (RevPAR): +23.6% to US$66.11
Local currency, April 2018 vs. April 2017
• Occupancy: +8.4% to 55.7%
• ADR: +1.0% to BRL280.09
• RevPAR: +9.6% to BRL155.88
Performance recovery continued in Brazil with the country’s eighth-consecutive month of occupancy growth and seventh-straight month with an ADR increase. The absolute occupancy level was the highest for an April in Brazil since 2014. On a market level, São Paulo registered an 11.9% increase in RevPAR with growth in both occupancy (+4.0%) and ADR (+7.5%). Rio de Janeiro, on the other hand, reported flat occupancy and a 6.8% decrease in ADR. Both markets saw their best occupancy growth during weekdays, which STR analysts note as an indicator of strong corporate activity.
• Occupancy: +8.1 to 78.0%
• ADR: +1.9% to CRC93,779.11
• RevPAR: +10.1% to CRC73,150.68
The absolute occupancy and ADR levels were the highest for any April in STR’s Costa Rica database. STR analysts note that countrywide performance was driven by San José, where RevPAR rose 18.3% to CRC44,027.23. Only five of the 30 days in April showed a year-over-year RevPAR decrease in the capital, and those with the largest decreases were the day of and after the presidential election.
• Occupancy: +8.8% to 68.9%
• ADR: +2.8% to PEN460.00
• RevPAR: +11.8% to PEN316.83
While occupancy has grown for 11-straight months in Peru, this was just the second year-over-year ADR increase in the country since September 2017. While Cusco showed a RevPAR decrease of 11.3%, Lima registered a 22.1% rise in the metric thanks in part to the Summits of The Americas (13-14 April). ADR jumped to PEN877.36 on the night of the 13th.
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