São Paulo hotel ADR and RevPAR reached record highs in November
São Paulo’s hotel industry reported its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, helped by several notable events, according to preliminary November data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
São Paulo’s hotel industry reported its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, helped by several notable events, according to preliminary November data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
November 2023 (year-over-year % change):
- Occupancy: 71.9% (+5.0%)
- Average daily rate (ADR): BRL749.67 (+20.7%)
- Revenue per available room (RevPAR): BRL539.37 (+26.8%)
The market’s occupancy level was above 70% for just the second time since November 2019.
When looking at daily data, the highest occupancy levels were seen on Wednesday, 8 November (90.4%), the night of a soccer match between São Paulo and Bragantino, and Wednesday, 29 November (90.0%) – the night of the São Paulo vs. Bahia match.
The market also hosted several other key events throughout the month, including UFC Fight Night, the Brazilian Grand Prix (which pushed daily ADR levels above BRL1,000), and Taylor Swift's Eras Tour.
São Paulo’s daily occupancy levels were above the 50% mark on all but one day – Wednesday, 1 November (46.0%).For more information about the company and its products and services, please visit www.costargroup.com.