STR: Central/South America hotel performance for Q3 2017
Hotels in the Central/South America region reported mixed year-over-year results in the three key performance metrics during Q3 2017, according to data from STR.U.S. dollar constant currency, Q3 2017 vs. Q3 2016Central/South America
LONDON -- Hotels in the Central/South America region reported mixed year-over-year results in the three key performance metrics during Q3 2017, according to data from STR.
U.S. dollar constant currency, Q3 2017 vs. Q3 2016
Central/South America
- Occupancy: +2.3% to 57.9%
- Average daily rate (ADR): -8.4% to US$100.36
- Revenue per available room (RevPAR): -6.3% to US$58.14
Local currency, Q3 2017 vs. Q3 2016
Argentina
- Occupancy: +10.1% to 62.6%
- ADR: +19.4% to ARS1,886.76
- RevPAR: +31.4 to ARS1,180.57
Demand (roomnights sold) grew 10.1% year over year, pushing occupancy to its highest level for a Q3 in Argentina since 2011. At the market level, Buenos Aires posted a 31.5% increase in RevPAR, due to double-digit growth in both occupancy and ADR. STR analysts note that convention center calendars were quite full in September. The market also played host to an ITF tennis tournament (11-17 September) and a rugby match with New Zealand (30 September).
Chile
- Occupancy: +6.5% to 68.6%
- ADR: -1.1% to CLP74,127.71
- RevPAR: +5.3% to CLP50,872.16
This marked Chile's highest Q3 occupancy level since 2008. STR analysts note that the country's hotel demand has grown steadily since the end of 2015, while ADR has gradually decreased since Q2 2016. In its latest Forecast for Chile, Oxford Economics noted that improved activity in the country seems to have extended into Q3. While outlooks remain cautious, consumer spending momentum is likely to continue into 2018.
Colombia
- Occupancy: +1.6% to 59.2%
- ADR: +0.4% to COP255,624.52
- RevPAR: +2.0% to COP151,418.29
After a weak first half of the year, Colombian hotels experienced 4.1% uplift in demand in Q3. This was mainly the result of stronger performance in July and August, as September results were negative. Pope Francis' visit to Bogotá in September drove the Colombian capital's RevPAR up 35.6% on Saturday, 9 September.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
Related Document
Media Contact
Alex Anstett
Media & Communications Coordinator - STR [email protected]