Central/South America hotel performance for August 2019
Hotels in the Central/South America region reported positive performance results during August 2019, according to data from STR.
U.S. dollar constant currency, August 2019 vs. August 2018
· Occupancy: +1.4% to 59.9%
· Average daily rate (ADR): +11.0% to US$94.48
· Revenue per available room (RevPAR): +12.6% to US$56.63
STR analysts note that the region’s demand continues to grow, pushing occupancy levels higher. However, ADR and RevPAR comparisons with last year are affected by currency fluctuations.
Local currency, August 2019 vs. August 2018
Rio de Janeiro, Brazil
· Occupancy: +3.9% to 54.3%
· ADR: +6.1% to BRL360.27
· RevPAR: +10.2% to BRL195.57
Supply in Rio de Janeiro grew for the first month this year (+0.8%), but demand (+4.7%) rose at a higher rate. STR analysts attribute demand increases to multiple August events, such as the 23rd Rio De Janeiro International Half Marathon (18 August) and the Bunker Festival (24 August).
· Occupancy: +6.2% to 68.9%
· ADR: +2.8% to PER437.10
· RevPAR: +9.2% to PER301.33
STR analysts note that August has been the highest performing month for the market thus far in 2019. The Pan American Games (26 July through 11 August) lifted performance levels during the first half of August. The largest occupancy and RevPAR increases were seen on 9 August, +41.9% and +62.4%, respectively.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. 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. For more information, please visit str.com.
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