Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Brazil.
Chile’s hotel occupancy reached 90% of the 2019 comparable, according to September 2021 data from STR.
Brazil’s hotel industry has surpassed its 2019 comparables in average daily rate (ADR) for two of the last three months, according to September 2021 data from STR.
After a difficult winter, Brazil’s hotel occupancy is once again on the rise, reaching 44% in August 2021, or about 74% of the 2019 comparable. While occupancy recovery has been slow, the country’s rebound in average daily rate (ADR) has been strong, with monthly rates even exceeding 2019 levels earlier this year.
Colombia’s accelerated vaccination rollout and lessened restrictions on eligibility pushed the country’s vaccination rate to 32.1% as of 22 September, according to Our World in Data. Is that growing vaccination rate helping improve hotel performance in this key South American country? The answer would seem to be, yes, but to a lesser extent for some areas of the country.
Analysts at Lodging Econometrics (LE) state in the Q2'21 Latin America Hotel Construction Pipeline Trend Report, that the total construction pipeline stands at 586 projects/103,011 rooms, down 14% by projects and 13% rooms, year-over-year (YOY).
Latin America’s popular leisure markets, especially beach destinations, have continued to post hotel occupancy levels above 40%, according to data from STR through 25 July.
Hotel development in the Central and South America region is lagging noticeably behind the rest of the world with just 39,000 rooms in the planning, final planning and in construction phases combined.
Most of South America continues to stagnate since the region exceeded 20% hotel occupancy in December 2020 thanks to the summer holidays and Christmas. However, one of the region’s key countries stands out for its inability to generate recovery momentum.
Recent COVID-19 restrictions pushed Lima’s hotel occupancy down after the market had reached a six-month high in April, according to data from STR.