STR: Central/South America Hotel Data For Q3 2019
Third-quarter occupancy for hotels in Central and South America rose 1.9% year over year to 59.7%, but a 42.5% ADR decline to $93.10 drove RevPAR down 41.4% to $55.58.
LONDON — Hotels in the Central/South America region reported mixed performance results during Q3 2019, according to data from STR.
U.S. dollar constant currency, Q3 2019 vs. Q3 2018
- Occupancy: +1.9% to 59.7%
- Average daily rate (ADR): -42.5% to US$93.10
- Revenue per available room (RevPAR): -41.4% to US$55.58
STR analysts note that the region's ADR and RevPAR comparisons with last year are affected by the fluctuation in Venezuela currency, which occurred during Q3 2018.
Local currency, Q3 2019 vs. Q3 2018
- Occupancy: +3.1% to 62.7%
- ADR: +0.4% to US$99.00
- RevPAR: +3.5% to US$62.11
Demand grew 8.4%, driven by a double-digit rise in the metric during July (+17.3%). STR analysts note that July was the standout month of the quarter, with occupancy and RevPAR producing double-digit growth, +11.5% and +10.6%, respectively.
São Paulo, Brazil
- Occupancy: +0.4% to 67.2%
- ADR: +9.4% to BRL377.22
- RevPAR: +9.9% to BRL253.53
STR analysts note that July was the market's best performing month of the quarter, helped by Copa America (14 June through 7 July). São Paulo saw increases across each of the three key performance metrics during the month: occupancy (+2.6%), ADR (+10.8%) and RevPAR (+13.6%). Q3 has been the best performing quarter thus far in 2019 in terms of absolute occupancy.
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.