• Lima experiences fifth consecutive month of occupancy declines amid significant supply growth
  • Quito posts double-digit demand growth

Hotels in the Central/South America region reported positive performance results during September 2018, according to data from STR.

U.S. dollar constant currency, September 2018 vs. September 2017

Central/South America

  • Occupancy: +0.9% to 58.7%
  • Average daily rate (ADR): +11.2% to US$104.27
  • Revenue per available room (RevPAR): +12.2% to US$61.18

Local currency, September 2018 vs. September 2017

Lima, Peru

  • Occupancy: -9.9% to 68.5%
  • ADR: -13.2% to PEN442.62
  • RevPAR: -21.8% to PEN303.14

Occupancy in Lima decreased for the fifth consecutive month. STR analysts attribute performance declines to an influx of new supply (+7.2%) combined with a dip in demand (-3.5%).

Quito, Ecuador

  • Occupancy: +13.0% to 66.9%
  • ADR: +2.3% to US$97.94
  • RevPAR: +15.7% to US$65.54

Demand (room nights sold) increased 16.3% in the market. STR analysts note that an improved political situation in Ecuador has helped increase tourism.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.