Market Reports

Hotel Industry in the Central/South America Region Reports 10.7 Percent RevPAR Growth for August 2018

Rio de Janeiro posts ADR and ADR growth for fourth consecutive month - Panama City experiences lowest August occupancy
Aerial view of Rio de Janeiro - Photo by Agustín Diaz on Unsplash
Rio de Janeiro hotels post ADR and RevPAR growth for fourth consecutive month

STR

Hotels in the Central/South America region reported positive performance results during August 2018, according to data from STR.

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

Central/South America

  • Occupancy: +2.3% to 59.3%
  • Average daily rate (ADR): +8.2% to US$101.31
  • Revenue per available room (RevPAR): +10.7% to US$60.10


Local currency, August 2018 vs. August 2017

Rio de Janeiro

  • Occupancy: +19.6% to 52.3%
  • ADR: +5.7% to BRL341.80
  • RevPAR: +26.3% to BRL178.80

Hotel performance in Rio de Janeiro was driven by a 13.9% increase in demand (room nights sold). ADR and RevPAR grew for the fourth consecutive month. STR analysts note that year-over-year percentage changes were also helped by a comparison with a month in 2017 that included double-digit performance declines.

Panama City

  • Occupancy: -10.0% to 46.1%
  • ADR: +2.6% to PAB88.68
  • RevPAR: -7.6% to PAB40.89

The absolute occupancy and RevPAR levels were the lowest for any August on record in Panama City. A continued drop in demand paired with consistent growth in supply has led to negative performance results.

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