- Cusco hotel business thrives thanks to Semana Santa
- Bogotá performance drops with less business travel around the Easter
Hotels in the Central/South America region reported negative performance results during April 2019, according to data from STR.
U.S. dollar constant currency, April 2019 vs. April 2018
• Occupancy: -3.2% to 56.6%
• Average daily rate (ADR): -18.5% to US$98.03
• Revenue per available room (RevPAR): -21.1% to US$55.48
Local currency, April 2019 vs. April 2018
• Occupancy: +4.8% to 73.7%
• ADR: 14.4% to PEN500.33
• RevPAR: +19.9% to PEN368.96
STR analysts note that the absolute ADR level was significantly higher than recent April averages in the market. Demand was up 6.3% for the month, largely driven by Semana Santa, which pushed occupancy for the week leading up to Easter to 86.1% and ADR to PEN613.13.
• Occupancy: -9.7% to 53.3%
• ADR: +3.0% to COP277,346.88
• RevPAR: -7.0% to COP147,834.46
The poor performance was due to a mix of meaningful supply growth (+4.9%) and lower demand (-5.4%) in the market. According to STR analysts, that drop in demand was largely due the Easter calendar shift from 1 April in 2018 to 21 April in 2019. With more days around the holiday falling in April this year, performance comparisons were effected as business demand is slower around Easter. Bogotá is a market largely dependent on business travel.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Logos, product and company names mentioned are the property of their respective owners.