12
Feb

Buenos Aires excels in what was a mixed performance for hotels across Central, South America and the Caribbean in 2018

Hotels across the Central and South America region reported positive, but inflation-affected performance results in 2018, according to full calendar year data from benchmarking specialist STR. The Caribbean hotel industry reported lower occupancy, but record-breaking average daily rate (ADR) during the period.

Across the entire region, STR’s data shows Central and South American hotel occupancy grew 1.9% year-on-year to 57.4%. ADR was up more than a fifth at 21.8% to USD118.89 and revenue per available room (RevPAR) increased almost a quarter at 24.1% to USD68.25, based on US dollar constant currency comparisons. STR analysts note that ADR and RevPAR figures were pushed upward due to inflation in key countries throughout the year.

The Argentine capital Buenos Aires has been identified as a standout performer in 2018 experiencing its highest yearly occupancy rate since 2012. The 69.7% level was up 1.0% on 2017. Significant gains were also recorded in ADR and RevPAR which were up 88.4% to ARS3,914.77 and 90.3% to ARS2,727.55, respectively.

READ MORE – via The Blue Swan Daily: Buenos Aires excels in what was a mixed performance for hotels across Central, South America and the Caribbean in 2018