Rio de Janeiro reported ADR and RevPAR growth for the fourth consecutive month and Panama City experienced its lowest August occupancy.
LONDON—Hotels in the Central/South America region reported positive performance results during August 2018, according to data from STR.
U.S. dollar constant currency, August 2018 vs. August 2017
• Occupancy: +2.3% to 59.3%
• Average daily rate (ADR): +8.2% to US$101.31
• Revenue per available room (RevPAR): +10.7% to US$60.10
Local currency, August 2018 vs. August 2017
Rio de Janeiro
• Occupancy: +19.6% to 52.3%
• ADR: +5.7% to BRL341.80
• RevPAR: +26.3% to BRL178.80
Hotel performance in Rio de Janeiro was driven by a 13.9% increase in demand (room nights sold). ADR and RevPAR grew for the fourth consecutive month. STR analysts note that year-over-year percentage changes were also helped by a comparison with a month in 2017 that included double-digit performance declines.
• Occupancy: -10.0% to 46.1%
• ADR: +2.6% to PAB88.68
• RevPAR: -7.6% to PAB40.89
The absolute occupancy and RevPAR levels were the lowest for any August on record in Panama City. A continued drop in demand paired with consistent growth in supply has led to negative performance results.
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