STR: Central/South America hotel performance for Q2 2018
Key Q2 takeaways:
- Brazil posts highest Q2 occupancy since 2015
- Chile performance dips despite economic health
- Colombia performance remains steady thanks to weekday business
STR’s sample comprises nearly 62,000 hotels and more than 8.2 million hotel rooms around the globe. Contact email@example.com for additional market data.
Hotels in the Central/South America region reported positive Q2 2018 performance results, according to data from STR.
U.S. dollar constant currency, Q2 2018 vs. Q2 2017
- Occupancy: +2.4 percent to 55.3 percent
- Average daily rate (ADR): +23.6 percent to US$117.24
- Revenue per available room (RevPAR): +26.6 percent to US$64.80
Local currency, Q2 2018 vs. Q2 2017
- Occupancy: +5.1 percent to 53.1 percent
- ADR: +5.3 percent to BRL279.36
- RevPAR: +10.7 percent to BRL148.47
Performance recovery continues in Brazil with more stabilized supply and consistent demand. The 53.1 percent absolute occupancy level was the highest for a Q2 in the country since 2015. In June specifically, Brazil’s RevPAR grew 9.0 percent after a six-month streak of double-digit growth in the metric. During the Global Offshore Brazil Summit (11-13 June), the country’s RevPAR grew as much as 73.8 percent.
- Occupancy: -1.7 percent to 60.8 percent
- ADR: -1.3 percent to CLP75,826.67
- RevPAR: -3.0 percent to CLP46,127.33
After a stronger April to start the quarter, Chile saw consecutive performance declines in May and June. For each month, performance levels were highest midweek, which is an indicator of higher demand from the business segment rather than leisure. STR analysts note that ADR has dropped year over year in all but one month this year (April) even with the Chilean economy on solid footing.
- Occupancy: +2.0 percent to 54.8 percent
- ADR: +0.9 percent to COP258,061.55
- RevPAR: +2.9 percent to COP141,374.17
Occupancy dropped during the final two months of Q2, but an 11.1 percent lift in April was enough to produce a positive comparison for the quarter as a whole. Fairly steady ADR growth helped maintain RevPAR levels. Weekday business represents a greater percentage of demand and demand growth in Colombia. STR analysts attribute this trend to stronger business demand than leisure.