Argentina Hotels Struggling to Generate Occupancy Momentum

STR | July 8, 2021

Most of South America continues to stagnate since the region exceeded 20% hotel occupancy in December 2020 thanks to the summer holidays and Christmas. However, one of the region’s key countries stands out for its inability to generate recovery momentum. Argentina closed May with the lowest occupancy (14.4%) in the region, which was well below the levels recorded in Chile (42.7%), Peru (38.4%), Brazil (30.9%), Uruguay (30.0%), and Colombia (25.0%).     Contracts with mining companies and other extractive activity have lifted Peru’s occupancy, especially in Lima, while Chile has shown positive signs in recent months ...