latin america
São Paulo Leads Hotel Profitability Recovery in Latin America
STR | August 5, 2022
LONDON—Among key hotel markets in Latin America, São Paulo led in recovery of gross operating profit per available room (GOPPAR), according to STR’s June 2022 P&L data release. São Paulo’s June GOPPAR reached US$42.78, which was 145.4% of the pre-pandemic comparable. That level was down from May, however, when the market saw GOPPAR at US$50.01, which was 160% of the comparable 2019 level. Also reporting significant month-over-month improvement in the region, Rio posted a June GOPPAR of US$31.50. That level was 145% of the pre-pandemic comparable. Meanwhile, Lima’s GOPPAR was just 31% of the 2019 comparable, up from neg...
Hilton Opens 11 Hotels, Signs 15 Deals in the Caribbean and Latin America in First Half of 2022
Hilton | August 2, 2022
MCLEAN, Va. – (August 2, 2022) – Leading global hospitality company, Hilton (NYSE: HLT), celebrated the 2022 mid-year mark with continued growth momentum in the Caribbean and Latin America (CALA). From Jan.1 to June 30, 2022, the company welcomed 11 new hotels, growing its CALA portfolio to more than 190 hotels representing nearly 15% of Hilton’s presence outside of the United States. With its aggressive expansion plans, including a pipeline of 105 properties, Hilton’s deep-rooted commitment to development across the region is as strong as ever, as the company expects to open its 200th hotel in CALA by the end of 2022. “We’r...
LAC Profit Pops in Q1 Amid Enduring COVID-19, Inflation Worry
HotStats | May 24, 2022
If it’s not one thing, it’s another—or two or three. The Latin America and Caribbean region is not alone in the hardship exacted by COVID-19 and now added detriments, including high inflation, rising interest rates and labor costs, but the region’s hotels are showing resilience. Like the rest of the world, COVID is not through with the LAC region. As of May 2022, LAC had nearly 1.7 million deaths, which amounts to more than 27% of deaths worldwide, according to the Pan American Health Organization (PAHO). Peru had the highest recorded COVID-19 mortality rate in the region, followed by Brazil, Chile, Argentina, Colombia and Trinidad...
Outlook for the Latin American Hotel Industry
HVS | December 15, 2020
By Richard J. Katzman , Maxim Gómez, Patricia Badiuk, Lorea Arnoldi, Alonso Buitrón, and Rod Clough The COVID-19 pandemic and resulting restrictions on domestic and international travel, economic activity, and individual movement are having an unprecedented impact on the lodging and tourism industry in Latin America and worldwide. While government authorities across the region work to manage restrictions and phased reopening plans, uncertainty prevails over the duration of the global pandemic. What started as a health crisis with tragic consequences for victims of COVID-19 morphed over the course of the year into a deep economic downtu...
On the Rise: Hospitality in Latin America
Dr. Achim Schmitt | July 20, 2018
By Dr. Achim Schmitt The hospitality industry has shown great dynamism in Latin America over the past five years and that trend looks set to continue in 2018. While tourism growth in Central and South America can be partly explained by the region's diversity and natural resources, most of its progress stems from the continuous commitment of governments to promote the sector. So it did not come as a surprise that last year's Travel and Tourism Competitiveness Index, published by the World Economic Forum, listed six Latin American countries among the top 50 most competitive globally. While Mexico has traditionally been the strongest touri...
Atlantica Hotels International in Partnership with Carlson Rezidor, Open First Radisson RED in Latin America
Radisson RED | September 1, 2017
MINNEAPOLIS (September 1, 2017) – Carlson Rezidor Hotel Group today announced the entrance of its lifestyle select brand, Radisson RED into Latin America with the opening of Radisson RED Campinas just outside of São Paulo, Brazil in partnership with Atlantica Hotels International. "RED is a lifestyle select concept enhanced by art, music and fashion with a fresh design and commitment to local flavor. We are delighted to partner with Atlantica to bring this dynamic brand to Brazil, a growing and vibrant locale. The RED concept provides owners with a flexible footprint and a model that is both efficient to construct and opera...
