COVID-19 webinar summary: 5 key points on Latin America hotel performance (24 March)
STR remains committed to keeping the hospitality industry updated on the impact of the COVID-19 pandemic, and our webinar series will provide in-depth updates on world regions around the globe. However, if you are unable to watch the full recording during this stressful time, you can find a summary of the key points below.
Panama, one of the countries most affected by COVID-19
Panama, Costa Rica and Chile are the Latin America countries most affected by COVID-19—these are markets highly dependent on international demand. Likewise, the decreases in occupancy are greater as virus containment measures have intensified throughout the region. However, Brazil showed high growth during the first week of March due to carnival celebrations.
Santiago: difficult 2020 for the Chilean capital since the protests
Since the beginning of 2020, occupancy in Santiago has not shown growth. This trend started in the Chilean capital at the start of protests in 2019. The decrease in occupancy was accentuated last week (9-15 March) with decreases in occupancy worse than 45%.