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.
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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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