Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Brazil.
Leisure markets lead the recovery
Leisure markets in Brazil have seen steady occupancy increases due to rising domestic demand. In October, Manaus posted a 51% occupancy level, followed closely Barra de Tijuca (46%) and Recife (44%).
Class impact
All hotel classes in Brazil have been impacted by the COVID-19 pandemic, however, Luxury hotels have been the most affected in the market. Luxury hotels saw a 53% year-over-year decrease in occupancy for October. For comparison, Midscale and Economy hotels posted a 47% occupancy decrease compared with October 2019.
Regional markets
Brazil’s regional destinations led early recovery in the market thanks to the demand of national tourists. For the week ending 28 November, regional Rio de Janeiro saw its highest occupancy level (42%) since March. For comparison during that same week, Rio de Janeiro posted a 35% occupancy level.
Future development
Brazil is still showing a considerable amount of pipeline projects, according to STR’s AM:PM platform, although many have been shelved since the beginning of the year. Although Brazil has 121 properties in the active pipeline, 48 have been abandoned this year.
Help us launch Forward STAR in São Paulo and Rio de Janeiro
With your help and participation, STR can launch Forward STAR in São Paulo and Rio de Janeiro. Occupancy-on-the-books intelligence will help us all understand recovery patterns and provide much-needed context. Insights can be accessed for free when you submit your data. If you are interested, please email sales@str.com or latam@str.com.
