Industry Update
Press Release25 September 2019

STR: Central/South America hotel performance for August 2019

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Str
  • Rio de Janeiro performance growth helped by events calendar
  • Pan American Games give Lima hotels a boost
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Hotels in the Central/South America region reported mixed performance results during July 2019, according to data from STR.

U.S. dollar constant currency, August 2019 vs. August 2018

Central/South America

  • Occupancy: +1.4% to 59.9%
  • Average daily rate (ADR): +11.0% to US$94.48
  • Revenue per available room (RevPAR): +12.6% to US$56.63

STR analysts note that the region's demand continues to grow, pushing occupancy levels higher. However, ADR and RevPAR comparisons with last year are affected by currency fluctuations.

Local currency, August 2019 vs. August 2018

Rio de Janeiro, Brazil

  • Occupancy: +3.9% to 54.3%
  • ADR: +6.1% to BRL360.27
  • RevPAR: +10.2% to BRL195.57

Supply in Rio de Janeiro grew for the first month this year (+0.8%), but demand (+4.7%) rose at a higher rate. STR analysts attribute demand increases to multiple August events, such as the 23rd Rio De Janeiro International Half Marathon (18 August) and the Bunker Festival (24 August).

Local currency, August 2019 vs. August 2018

Rio de Janeiro, Brazil

  • Occupancy: +3.9% to 54.3%
  • ADR: +6.1% to BRL360.27
  • RevPAR: +10.2% to BRL195.57

Supply in Rio de Janeiro grew for the first month this year (+0.8%), but demand (+4.7%) rose at a higher rate. STR analysts attribute demand increases to multiple August events, such as the 23rd Rio De Janeiro International Half Marathon (18 August) and the Bunker Festival (24 August).

About STR

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.

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