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 Latin America.
From STR’s sample as of 23 January, 96% of hotel rooms in South America were open compared with 92% in Central America. At the same time, South America has been exceeding 30% occupancy since the end of November except for the period between 26-28 December (25%).
All hotel classes in South America have been impacted by the COVID-19 pandemic. However, the Luxury & Upper Upscale segment maintained ADR the best in 2020 with just a 17.9% decrease. The next best comparison was Upscale & Upper Midscale (-21.4%).
When using total-room-inventory (TRI) methodology, which excludes temporary closures due to the pandemic, Lima occupancy was the highest in the region in 2020 (38%), followed closely by Manaus (33%) and Rio de Janeiro (30%).
Beach destinations in Latin America have seen steady occupancy increases due to rising domestic demand. Coinciding with New Year’s celebrations, for the week ending with 2 January, all beach destinations in the region posted occupancy levels higher than 50%. Santa Marta posted a 63.6% occupancy level, followed closely Acapulco (62.2%) and Guanacaste (61.3%).
Powered by Forward STAR data, the below image includes occupancy on the books for the next 365 days (as of 4 January) in Bogota, and further insights are provided in the full webinar recording. Occupancy-on-the-books intelligence will help us all understand recovery and provide much-needed context. Those insights can be accessed for free when you submit your data. If you are interested, please email sales@str.com.
