BOGOTA—Chile’s hotel occupancy reached 90% of the 2019 comparable, according to September 2021 data from STR.
The country’s 47.6% occupancy level in September was 10% lower than September 2019 (52.8%) after August (47.8%) came in 22.3% below the 2019 comparable.
“Chile has been different than many countries in that it is recovering occupancy quicker than average daily rate,” said Patricia Boo, STR’s area director, Central & South America.
ADR for September came in at CLP 60,473.55, which was the highest level in the country since March 2020 but just 83% of the pre-pandemic comparison.
“Similar to other countries, domestic demand has been essential in Chile’s recovery as leisure travelers continue to choose regional gateways instead of big cities,” Boo said. “The provincial market has seen occupancy surpass 2019 levels for several months, while the capital remains far behind as corporate demand continues to suffer from border closures and restrictions, as well as lack of a MICE segment.”
Among STR-defined markets, Chile Provincial’s occupancy came in at 59.1% in September, or 122.6% of the 2019 comparable. In Santiago, occupancy reached 75.2% of the 2019 comparable, which was the market's best comparison since March 2020.
“Every part of the world has experienced significant obstacles because of the pandemic, but Chile was already in a challenging situation due to protests in the country that started in late 2019. With all of that considered, it is encouraging that the country has been able to move so closely to pre-pandemic occupancy levels even though recovery remains fragile.”
Further analysis regarding Chile hotels occupancy recovery can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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