In March, hotel occupancy in Central and South America declined 48% to 31%, ADR dipped 6.1% to $85.61 and RevPAR dropped 51.2% to $26.56.
LONDON—In its first month with a visible impact from the COVID-19 pandemic, the Central/South America hotel industry reported steep declines in the three key performance metrics during March 2020, according to data from STR.
U.S. dollar constant currency, March 2020 vs. March 2019
• Occupancy: -48.0% to 31.0%
• Average daily rate (ADR): -6.1% to US$85.61
• Revenue per available room (RevPAR): -51.2% to US$26.56
The absolute occupancy and RevPAR levels were the lowest for any month on record in the region.
Local currency, March 2020 vs. March 2019
• Occupancy: -49.6% to 30.5%
• ADR: -0.7% to COP272,820.00
• RevPAR: -50.0% to COP83,252.00
The absolute occupancy was the lowest for any month in STR’s Colombia database. Bogotá experienced a 48.4% decrease in occupancy. A detailed look into Colombia’s early March daily data can be found here.
• Occupancy: -43.0% to 32.4%
• ADR: -9.9% to BRL294.19
• RevPAR: -48.6% to BRL95.43
The absolute occupancy level was the lowest for any month in STR’s Brazil database. When looking at key markets, Rio de Janeiro and São Paulo recorded occupancy declines of 46.2% and 46.9%, respectively.
Additional COVID-19 analysis
STR continues to monitor the COVID-19 impact on global hotel performance. More information, such as full analysis pieces and webinar recordings, can be found here.
A note to editors
All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing.
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.
International Media Contact
Rebeca Vélez Mínguez
+44 (0)203 890 0056 ext. 0056
General Media Inbox
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 Editorial Director Stephanie Ricca at firstname.lastname@example.org.