Market Reports

The Hotel Industry in the Central/South America Region Reports RevPAR Growth for July 2018

Region’s performance skewed by inflation in Venezuela - Lima hotel performance negative for third month in a row - Buenos Aires room rates soar due to currency devaluation
Hilton Lima Miraflores - Exterior
Hilton Lima Miraflores

STR

Hotels in the Central/South America region reported a slight occupancy decline with significantly higher room rates during July 2018, according to data from STR.

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

Central/South America

  • Occupancy: -0.4% to 57.5%
  • Average daily rate (ADR): +85.0% to US$175.15
  • Revenue per available room (RevPAR): +84.3% to US$100.69

STR analysts note that the spike in ADR and RevPAR was due primarily to a 500% increase in ADR in Venezuela, caused by inflation of more than 2,000%.

Local currency, July 2018 vs. July 2017

Lima, Peru

  • Occupancy: -8.6% to 61.3%
  • ADR: -0.5% to PEN425.55
  • RevPAR: -9.1% to PEN260.92

Hotel performance in Lima was negative for the third month in a row, due to a 2.8% decline in demand (room nights sold) and an influx of supply (+6.4%). On a positive note, the 2018 IASIA-LAGPA International Conference was held 23-26 July, boosting RevPAR as much as 27.1% during that time period.

Buenos Aires, Argentina

  • Occupancy: -6.4% to 63.4%
  • ADR: +64.1% to ARS3,106.55
  • RevPAR: +53.6% to ARS1,969.56

The market experienced just six days of year-over-year occupancy growth during the month. STR analysts attribute a third consecutive month of ADR growth of more than 50% to the devaluation of the Argentine Peso.

Download the Global Performance Review

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.



Logos, product and company names mentioned are the property of their respective owners.