Supply Growth Moves Above Long-Term Average in 2017
Wide Range of Issues are Creating a Difficult Climate for Business Travel in Latin Americas Biggest Market
Hotels in the Middle East reported negative results, while hotels in Africa reported mixed results in the three key performance metrics when reported in U.S. dollar constant currency, according to April 2016 data from STR.
In year-over-year comparisons, the industry's occupancy decreased 0.9% to 70.7%. However, average daily rate for the week was up 2.7% to US$125.76, and revenue per available room increased 1.9% to US$88.88.
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