STR: Central/South America hotel data for July 2017
 
STR: Central/South America hotel data for July 2017
24 AUGUST 2017 7:23 AM

In July, hotels in Central and South America reported mostly positive year-over-year performance. Occupancy rose 3.2% to 58.1%, ADR was mostly flat (+0.2% to $97.86) and RevPAR increased 3.5% to $56.83.

LONDON—Hotels in the Central/South America region reported positive results in the three key performance metrics during July 2017, according to data from STR.

U.S. dollar constant currency, July 2017 vs. July 2016

Central/South America

  • Occupancy: +3.2% to 58.1%
  • Average daily rate (ADR): +0.2% to US$97.86
  • Revenue per available room (RevPAR): +3.5% to US$56.83

Local currency, July 2017 vs. July 2016

Argentina

  • Occupancy: +8.6% to 62.3%
  • ADR: +25.6% to ARS1,964.17
  • RevPAR: +36.5% to ARS1,222.96

This marked Argentina’s highest actual occupancy level for the month of July since 2011. According to STR analysts, an increase in flight options to the country and South America as a whole should continue to help the market’s hotels. Buenos Aires recorded a 14.2% lift in demand for July, its third consecutive month of double-digit demand growth.

Chile

  • Occupancy: +4.1% to 72.5%
  • ADR: +1.0% to CLP76,710.70
  • RevPAR: +5.1% to CLP55,599.85

Chile’s performance was driven primarily by weekend business, with occupancy up 5.7% compared with a 2.9% increase for weekdays, indicating uplift in leisure bookings. Through the first seven months of the year, the country’s ADR was down 5.7%, in line with a weakened economy due to a drop in the global price of copper. STR analysts note that Chile’s economy is expected to gain momentum in the second half of 2017, with a recovery in mining investment. The country currently has 22 hotel projects in the pipeline, accounting for 3,325 rooms.

Colombia

  • Occupancy: +2.9% to 56.5%
  • ADR: +2.0% to COP257,456.14
  • RevPAR: +5.0% to COP145,558.86

July marks Colombia’s second month of RevPAR growth in 2017, including a 9.1% increase in May. The market has experienced a last-minute influx in supply development as the government’s tax break window for hotels built between 2003 and 2017 draws to a close. STR analysts note that the country’s June peace settlement with the Farc rebels could help stimulate hotel demand in the long term.

Download STR's July 2017 global hotel review.

International Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

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