Article Summary:

In January, hotels in Central and South America saw occupancy dip 0.9% to 55.7%, and a 2% ADR decline to $99.35 brought RevPAR down 2.9% to $55.32.

Primary Category: Monthly Data

Secondary Categories: Americas, Data Dashboard, News Release

LONDON—Hotels in the Central/South America region reported negative performance results in January 2019, according to data from STR.

U.S. dollar constant currency, January 2019 vs. January 2018

Central/South America

• Occupancy: -0.9% to 55.7%
• Average daily rate (ADR): -2.0% to US$99.35
• Revenue per available room (RevPAR): -2.9% to US$55.32

Local currency, January 2019 vs. January 2018

Buenos Aires, Argentina

• Occupancy: +4.4% to 62.0%
• ADR: +103.7% to ARS4,808.29
• RevPAR: +112.7% to ARS2,981.09

Buenos Aires experienced its highest January occupancy level since 2012, due in part to a lack of new rooms entering the market. Demand also rose 3.7% year over year. STR analysts attribute the significant jump in ADR to the inflation of the Argentine peso.

Panama City

• Occupancy: -9.3% to 48.1%
• ADR: +17.2% to PAB110.89
• RevPAR: +6.3% to PAB53.35

STR analysts note that ADR increased 53.7% during 22-27 January as the market hosted Pope Francis and World Youth Day. Occupancy was 9.2% lower than the same days the previous year. Long term, the market has been challenged by low hotel demand and strong supply growth.

São Paulo

• Occupancy: -1.4% to 47.3%
• ADR: +11.2% to BRL342.85
• RevPAR: +9.7% to BRL162.18

São Paulo hotels have now posted 18 consecutive months of ADR growth. STR analysts partially attribute the jump in rates to the depreciation of the Brazilian Real against the U.S. dollar. STR data shows that the absolute occupancy level in São Paulo was higher than the long-term January average of 46.4%.

Download STR's January 2019 global hotel review.

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.

Main Image

Hide Headline: No

Hide Sharing Icons: No

Hide Feature Image: No

Hide Summary: No

Feature:

Third Party Article: No

Headline: STR: Central/South America hotel data for January 2019

LegacyId: 0

Article Time: 9:32:00 AM