STR: Central/South America hotel performance for Q1 2018

STR: Central/South America hotel performance for Q1 2018

STR: Central/South America hotel performance for Q1 2018

STR: Central/South America hotel performance for Q1 2018

Key Q1 takeaways:

  • Argentina posts best Q1 occupancy since 2008
  • Chile reports lowest Q1 RevPAR since 2010
  • Colombia registers highest Q1 occupancy since 2011

STR’s sample comprises more than 59,000 hotels and 8.0 million hotel rooms around the globe. Contact for additional market data.

Hotels in the Central/South America region reported positive Q1 2018 performance results, according to data from STR.

U.S. dollar constant currency, Q1 2018 vs. Q1 2017

Central/South America

  • Occupancy: +4.5 percent to 57.6 percent
  • Average daily rate (ADR): +7.9 percent to US$108.70
  • Revenue per available room (RevPAR): +12.8 percent to US$62.60

Local currency, Q1 2018 vs. Q1 2017


  • Occupancy: +7.5 percent to 63.6 percent
  • ADR: +28.3 percent to ARS2,350.20
  • RevPAR: +38.0 percent to ARS1,493.79

The absolute occupancy level was the highest for a first quarter in Argentina since 2008. An occupancy increase in March (+4.5 percent) was the 15th consecutive month of occupancy growth for the country. Demand growth in Buenos Aires was the highest for Q1 since 2010. The Lollapalooza music festival helped push RevPAR (+73.0 percent) during 16-18 March. STR analysts also note that inflation continues to influence ADR in the country.   


  • Occupancy: -2.5 percent to 66.7 percent
  • ADR: -5.2 percent to CLP75,139.81
  • RevPAR: -7.6 percent to CLP50,146.52

Due primarily to supply growth, absolute RevPAR was the lowest for a first quarter in the country since 2010. At the market-level, Santiago reported a 0.6 percent Q1 decrease in RevPAR, which was due to a 2.5 percent decline in ADR. Occupancy in the market was more stable as growth on weekends overshadowed declines during the week. 


  • Occupancy: +5.4 to 58.5 percent
  • ADR: +1.8 percent to COP272,687.74
  • RevPAR: +7.3 percent to COP159,612.10

Positive performance was mainly driven by January and February, as a slowdown in demand growth (+3.3 percent) for March allowed occupancy comparisons to fall into negative territory (-0.2 percent). Regardless, absolute occupancy was the highest for a first quarter in Colombia since 2011. When looking at market-level data, Bogotá experienced its highest Q1 occupancy level since 2012. ADR in the market decreased 3.2 percent. Bogotá’s occupancy and RevPAR growth was highest on 16 March, helped by a Depeche Mode concert at Parque Simon Bolivar and a FIFA council meeting.

Source = STR
Pin It

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>