• Brazil posts highest ADR since August 2016
  • Ecuador registers significant performance growth
  • Panama shows largest occupancy growth for a February since 2014

LONDON – Hotels in the Central/South America region reported strong growth across the three key performance metrics, according to February 2018 data from STR.

U.S. dollar constant currency, February 2018 vs. February 2017

Central/South America

  • Occupancy: +4.2% to 57.8%
  • Average daily rate (ADR): +8.6% to US$109.75
  • Revenue per available room (RevPAR): +13.2% to US$63.40

Local currency, February 2018 vs. February 2017

Brazil

  • Occupancy: +2.2% to 52.0%
  • ADR: +2.8% to BRL309.33
  • RevPAR: +5.1% to BRL160.73

The absolute ADR level was the highest for any month in Brazil since August 2016, which is another sign of performance recovery in the country. Aside from demand growth (+4.4%), the overall positive performance can be attributed to much lower supply growth (+2.1%) compared with the past several Februarys. Rio de Janeiro helped the country's overall performance, reaching double-digit growth in occupancy (+13.8%) and RevPAR (+14.7%).

Ecuador

  • Occupancy: +0.3% to 61.4%
  • ADR: +2.5% to US$97.52
  • RevPAR: +2.8% to US$59.91

ADR reached its highest level for any month in Ecuador since October 2016 and the highest for a February since 2016. The WIDA International School Consortium (22-25 February) helped boost performance in Quito, as did the football match between Quito and Guayaquil City, which raised occupancy 104.4% on 27 February. For the month overall, Quito occupancy grew 8.3% to 62.4%, which was the highest absolute occupancy level for a February in the market since 2015.

Panama

  • Occupancy: +0.8% to 56.9%
  • ADR: +1.3% to PAB97.58
  • RevPAR: +2.2% to PAB55.52

The occupancy level was the highest for a February in Panama since 2014. The market also saw its first year-over-year increase in ADR since April 2015.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.

Alex Anstett
Media & Communications Coordinator - STR
STR

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