Industry Update
Press Release23 December 2019

STR: Central/South America hotel performance for November 2019

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Smith Travel Research

Hotels in the Central/South America region reported positive performance results during November 2019, according to data from STR.

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

Central/South America

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  • Occupancy: +4.1% to 60.5%
  • Average daily rate (ADR): +7.5% to US$90.54
  • Revenue per available room (RevPAR): +11.9% to US$54.77

Note: Venezuela data was not included in this sample due to currency fluctuations in the country drastically affecting hotel performance figures for all of South America.

Local currency, November 2019 vs. November 2018

Panama City

  • Occupancy: -7.3% to 47.9%
  • ADR: flat at PAB86.27
  • RevPAR: -7.3% to PAB41.35

The market's November occupancy dipped below 50% for the first time in STR's Panama City database. While supply was up a healthy 1.7%, STR analysts pin the decline in occupancy more to a 5.7% drop in demand.

Chile

  • Occupancy: -29.9% to 51.4%
  • ADR: +0.8% to CLP83,344.89
  • RevPAR: -29.3% to CLP42,805.29

STR analysts attribute a 28.7% decrease in demand to prolonged protests in the country.

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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