STR: Mexico hotel performance for Q1 2018
Mexico's hotel industry reported mixed year-over-year results in the three key performance metrics during the first quarter of 2018, according to data from STR. Compared with Q1 2017:
Press Releases
STR: South America demand outpacing supply for first time since 2011
South America hotel demand is growing at a quicker pace than supply for the first time since 2011, according to data and analysis from Boo covered the region's supply/demand dynamic and hotel performance during her presentation earlier today ahead of the World Travel and Tourism Council Global Summit. The media contacts listed below can provide Boo's full presentation slide deck and arrange interviews for further comment. For total-year 2017, South America's occupancy increased 2.2% to 55.9%, and average daily rate (ADR) was up 0.5% to US$104.07. As a result, revenue per available room (RevPAR) grew 2.7% US$58.20.At the market-level, Buenos Aires posted one of the top RevPAR growth rates at +29.1%. That came as a result of 11.3% growth in occupancy to 68.7% and a 16.1% spike in ADR to ARS2,147.01. "Buenos Aires showed strong performance across each day of the week with little fluctuation. We see that pattern as an indicator of strong business and leisure performance," Boo said. "The market is a top destination for MICE (Meetings, incentives, conferences and exhibitions) business, and with a boost from events like the WTTC, Youth Olympic Games and G20 summit, we forecast occupancy to surpass 70% in 2018 with ADR growth being the primary driver of RevPAR growth."
Mexico Hotel Destinations - 2018
Following the 2016 U.S. election, there was a growing concern over Mexico's ability to achieve meaningful economic growth given President Trump's protectionist rhetoric with regard to U.S.-Mexico trade policy. Nonetheless, in 2017, rhetoric proved less impactful than reality, as Mexico's economy fared better than expected and real GDP grew 2.3% year-over-year. The travel and tourism industry continues to play a vital role in Mexico's overall economy and international visitation into the country's capital reached a new record, growing 12.2% over 2016 levels. The 2018 outlook remains promising, in spite of uncertainty around NAFTA negotiations and upcoming presidential elections.
STR: Brazil hotel performance rebounds
A double-digit increase in occupancy during January 2018 was further evidence of hotel performance recovery in Brazil, according to an analysis from In the 12 months ending with January 2018, Brazil showed occupancy growth of 2.3% (to 53.4%) but an ADR decrease of 11.2% (to BRL278.93). Six of the country's key markets and cities registered year-over-year occupancy growth near, at or above 10% for those 12 months: Belo Horizonte (+10.7% to 53.3%), Brasilia (+10.2% to 48.5%), Manaus(+10.0% to 48.6%), Fortaleza (+9.8% to 59.3%), Salvador (+9.0% to 54.0%) and theRecife Area (+8.3% to 56.6%). While most of the key markets and cities showed negative ADR comparisons during this 12-month time period, Porto Alegre was an outlier with 7.1% growth in ADR to BRL241.40. Rio de Janeiro's 6.8% decrease in occupancy and 34.3% drop in ADR heavily influenced the country's overall performance for the 12-month time period. However, in January 2018 specifically, the market reported a 20.7% jump in occupancy with a less dramatic decline in ADR (-6.2%). Overall, eight of the 10 markets and cities included in STR's analysis showed a rise in occupancy for January. Seven of those markets and cities posted ADR growth, led once again by Porto Alegre (+11.7% to BRL233.47). "Because of the mega events of the last several years, we've seen a massive supply increase in Brazil's key cities," Boo said. "However, with new investors, we've seen a shift in development to secondary and tertiary cities. That has meant that hotel performance fluctuations have been seen just about everywhere." While included in the list of markets that have seen performance fluctuations in Brazil, Boo noted the strength and stability of São Paulo specifically when looking further down the road at the country's recovery. STR's latest forecast for São Paulo projects growth across the three key performance metrics in 2018 and 2019. "As the financial hub of Brazil, São Paulo tends to react much quicker to economic factors affecting hotel performance," Boo said. "The performance improvements we have seen since the later months of 2017 should continue for the market."
Brazil’s Hospitality Market is Poised for a Big Year in 2018 [INFOGRAPHIC]
Brazil has been on the world-stage as of late, largely due to hosting the World Cup in 2014 and the Summer Olympics in 2016.
STR's Caribbean/Mexico hotel supply development update
The Caribbean/Mexico room construction total represented a 67.8% increase compared with January 2017.
STR: Mexico 2017 hotel performance
Mexico's hotel industry reported positive year-over-year results in the three key performance metrics during 2017, according to data from STR. Compared with 2016:
STR: Central/South America 2017 hotel performance
LONDON -- Hotels in the Central/South America region reported positive year-over-year results in the three key performance metrics during 2017, according to data from STR.U.S. dollar constant currency, 2017 vs. 2016Central/South America
STR: Central/South America hotel performance for October 2017
Hotels in the Central/South America region reported positive year-over-year results in the three key performance metrics during October 2017, according to data from STR.U.S. dollar constant currency, October 2017 vs. October 2016Central/South America
STR: Caribbean/Mexico hotel pipeline update
STR's October 2017 Pipeline Report shows 44,556 rooms in 245 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 39.0% increase in rooms Under Contract compared with October 2016.
STR: Central/South America hotel pipeline update
STR's October 2017 Pipeline Report shows 58,909 rooms in 376 hotel projects Under Contract in the Central/South America region. The total represents an 8.0% decrease in rooms Under Contract compared with October 2016.
STR: Mexico hotel performance for Q3 2017
Mexico's hotel industry reported mixed year-over-year results in the three key performance metrics during the third quarter of 2017, according to data from STR. Compared with Q3 2016:
STR: Hotel performance amped up during Rock in Rio 2017
Data from STR shows that hotels in Rio de Janeiro, Brazil, recorded substantial performance levels during the September Rock in Rio music festival.During the seven days of the festival (15-17 and 21-24 September), occupancy in the Barra da Tijuca area of Rio, at an actual level of 81.4%, was 69.1% higher compared with the rest of September, while average daily rate (ADR) was 64.8% more at BRL555.77. Performance uplifts were common outside of Barra da Tijuca as well. Excluding Barra da Tijuca, Rio's revenue per available room (RevPAR) was 74.7% higher compared with the rest of the month, with occupancy 54.8% higher and ADR 12.8% higher.
STR: Central/South America hotel performance for Q3 2017
Hotels in the Central/South America region reported mixed year-over-year results in the three key performance metrics during Q3 2017, according to data from STR.U.S. dollar constant currency, Q3 2017 vs. Q3 2016Central/South America
STR: Caribbean/Mexico hotel pipeline for September 2017
STR's September 2017 Pipeline Report shows 42,259 rooms in 241 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 29.3% increase in rooms Under Contract compared with September 2016. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The Caribbean/Mexico region reported 17,450 rooms in 99 projects In Construction for the month. Based on number of rooms, that is a 25.0% increase in year-over-year comparisons. Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (24.2% with 10,242 rooms). The Upper Upscale segment accounted for the largest portion of rooms In Construction (23.2% with 4,050 rooms).
STR: Central/South America hotel performance for August 2017
Hotels in the Central/South America region reported nearly flat occupancy with year-over-year rate declines during August 2017, according to data from STR.U.S. dollar constant currency, August 2017 vs. August 2016Central/South America
STR: Caribbean/Mexico hotel pipeline for August 2017
STR's August 2017 Pipeline Report shows 41,116 rooms in 234 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 47.1% increase in rooms Under Contract compared with August 2016. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The Caribbean/Mexico region reported 16,297 rooms in 92 projects In Construction for the month. Based on number of rooms, that is a 24.4% increase in year-over-year comparisons. Three countries in the region reported more than 1,000 rooms In Construction:
STR: Central/South America hotel performance for July 2017
Hotels in the Central/South America region reported positive results in the three key performance metrics during July 2017, according to data from STR.U.S. dollar constant currency, July 2017 vs. July 2016Central/South America
STR: Caribbean/Mexico hotel pipeline for July 2017
STR's July 2017 Pipeline Report shows 41,131 rooms in 234 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 44.7% increase in rooms Under Contract compared with July 2016. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The Caribbean/Mexico region reported 16,015 rooms in 89 projects In Construction for the month. Based on number of rooms, that is a 23.6% increase in year-over-year comparisons.Four key markets reported more than 1,000 rooms In Construction:
STR: Mexico hotel performance for Q2 2017
Mexico's hotel industry reported positive year-over-year results in the three key performance metrics during the second quarter of 2017, according to data from STR. Compared with Q2 2016: