STR: Bogotá hotel industry reported highest RevPAR on record in March
Helped by an increase in business travel, Bogotá’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary March 2023 data from STR.
LONDON – Helped by an increase in business travel, Bogotá’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary March 2023 data from STR.
- Occupancy: 69.8%
- Average daily rate (ADR): COP 406,329.13
- Revenue per available room (RevPAR): COP 283,530.04
The market’s occupancy level was its highest since November 2022. Daily data shows five days with the metric above the 80% mark, with the highest level reported on Wednesday, 22 March (85.3%), further pointing to recovery in business demand.
More of STR’s analysis can be found here.
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