RevPAR growth for Central and South America
Quarter One 2012 percentage change in local currency
|Panama City||-6.0%||-5.4%||-11.1%||Rio de Janeiro||+5.6%||+18.9%||+25.6%|
Rio de Janeiro and Cordoba, Argentina, ended the first quarter with RevPAR increases of more than 20 percent, achieving the top two spots in terms of RevPAR growth of the 14 markets. Cordoba, Argentina"s second largest city, reported very limited increases in supply and demand, leading to 57.8 percent occupancy and ARS 382.91 average room rate. Rio de Janeiro"s performance was boosted by better demand levels (+6.1 percent) compared to first quarter 2011. Coupled with limited supply, occupancy reached 81.5 percent and ADR reached BRL 418.73. Rio"s RevPAR for the first quarter (BRL 341.19) was the best RevPAR achieved for a first quarter in Rio since 2006.
"The RevPAR increases across most markets reflect the solid market conditions across Central and South America", said Elizabeth Randall, managing director of STR Global. "However, recent weakening of demand in seven of the 14 markets can be seen as an indication that there will be tougher market conditions going forward".
Quarter One 2012 percentage change RevPAR (local currency), Demand
Source: STR Global
STR Global tracks performance data from over 92,000 hotel rooms across Central and South America. STR Global will be presenting on regional trends at the Hotel Opportunities Latin America conference, taking place in Miami 8-10 May 2012.
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com and join us on and .
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