Hotels in Central and South America reported occupancy fell 79.7% in April to 11.6%. ADR decreased 28.7% to $61.83, which resulted in an 85.5% drop in RevPAR to $7.17.
LONDON—Reflecting impact from the COVID-19 pandemic, the Central/South America hotel industry reported historic performance lows during April 2020, according to data from STR.
U.S. dollar constant currency, April 2020 vs. April 2019
• Occupancy: -79.7% to 11.6%
• Average daily rate (ADR): -28.7% to US$61.83
• Revenue per available room (RevPAR): -85.5% to US$7.17
The absolute occupancy and RevPAR levels were the lowest for any month on record in the region.
Local currency, April 2020 vs. April 2019
• Occupancy: -69.2% to 14.0%
• ADR: -49.1% to PAB47.71
• RevPAR: -84.3% to PAB6.69
The absolute levels in each of the three key performance metrics were the lowest for any month in STR’s Panama database. Panama City experienced a 68.5% decrease in occupancy.
• Occupancy: -85.3% to 9.0%
• ADR: -36.3% to US$61.69
• RevPAR: -90.6% to US$5.56
The absolute occupancy, ADR and RevPAR levels were the lowest for any month in STR’s Ecuador database. Quito recorded an occupancy decline of 84.0%.
Additional COVID-19 analysis
All of STR’s COVID-19 analysis, including press releases and webinar recordings, can be found here.
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STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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