Hotels in the Central/South America region reported growth across the three key performance metrics, according to January 2018 data from STR.
U.S. dollar constant currency, January 2018 vs. January 2017
- Occupancy: +7.7% to 56.2%
- Average daily rate (ADR): +5.6% to US$106.24
- Revenue per available room (RevPAR): +13.7% to US$59.74
Local currency, January 2018 vs. January 2017
- Occupancy: +7.4% to 58.2%
- ADR: +24.7% to ARS2,259.51
- RevPAR: +34.0% to ARS1,314.49
The absolute occupancy level was the highest for any January in Argentina since 2008. The month also was the fourth in a row with ADR growth above 20%. Significant year-over-year increases in room rates have remained consistent for several years due to inflation. Also helping performance is a lack of significant supply growth in the country.
- Occupancy: +5.9% to 77.3%
- ADR: +18.4% to CRC101,098.66
- RevPAR: +25.4% to CRC78,179.83
Occupancy reached its highest level for any January in STRs Costa Rica database. STR analysts attribute the performance to a stable supply level and a positive economic outlook in the country.
- Occupancy: +15.1% to 52.9%
- ADR: -2.8% to PEN395.39
- RevPAR: +11.9% to PEN209.03
The occupancy level was the highest for a January in Peru since 2013, while ADR dropped to its lowest point since 2014. While the occupancy figure was higher than the January average in the country, the year-over-year growth rate was boosted by a comparison with a low occupancy month in 2017.
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.