The Hotel Industry in the Central/South America Region Reports Mixed Year-Over-Year Results for November 2017
The Central America region reported occupancy rose 1% to 63% during November, while ADR dropped 1.2% to $103.68 and RevPAR was mostly flat (-0.3% to $65.31). In South America, occupancy increased 6.4% to 63.3%, ADR rose 15.1% to $116.08 and RevPAR jumped 22.4% to $73.43.
Hotels in Central America reported mixed year-over-year results in November 2017, while hotels in South America posted growth across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, November 2017 vs. November 2016
- Occupancy: +1.0% to 63.0%
- Average daily rate (ADR): -1.2% to US$103.68
- Revenue per available room (RevPAR): -0.3% to US$65.31
- Occupancy: +6.4% to 63.3%
- ADR: +15.1% to US$116.08
- RevPAR: +22.4% to US$73.43
STR analysts note that besides Uruguay, all countries in South America recorded growth in demand (roomnights sold), with Argentina and Brazil being the strongest performers.
Despite occupancy growth in Costa Rica, STR analysts note that ADR declined for all but three days in November. The country hosted the Sustainable Hotel & Tourism Investment Conference (13-14 November) in San Jose, which helped raise absolute occupancy above 80.0% during those days.
Brazil continued to show signs of recovery, with occupancy (+7.4% to 59.1%) reaching its highest level for any month since November 2015.
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