Hotels in the Central/South America Region Steep Declines for March 2020

In its first month with a visible impact from the COVID-19 pandemic, the Central/South America hotel industry reported steep declines in the three key performance metrics during March 2020, according to data from STR.

U.S. dollar constant currency, March 2020 vs. March 2019

• Occupancy: -48.0% to 31.0%
• Average daily rate (ADR): -6.1% to US$85.61
• Revenue per available room (RevPAR): -51.2% to US$26.56

The absolute occupancy and RevPAR levels were the lowest for any month on record in the region.

Local currency, March 2020 vs. March 2019

Colombia

• Occupancy: -49.6% to 30.5%
• ADR: -0.7% to COP272,820.00
• RevPAR: -50.0% to COP83,252.00

The absolute occupancy was the lowest for any month in STR’s Colombia database. Bogotá experienced a 48.4% decrease in occupancy.

Brazil

• Occupancy: -43.0% to 32.4%
• ADR: -9.9% to BRL294.19
• RevPAR: -48.6% to BRL95.43

The absolute occupancy level was the lowest for any month in STR’s Brazil database. When looking at key markets, Rio de Janeiro and São Paulo recorded occupancy declines of 46.2% and 46.9%, respectively.