Rio de Janeiro hotel performance
Rio de Janeiro’s Room Rates Jumped to Eight-Year High Thanks to Rock in Rio
CoStar Group | October 17, 2024
WASHINGTON – 17 October 2024 – Boosted by the Rock in Rio music festival, Rio de Janeiro’s hotel industry reached its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) in eight years, according to September preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (year-over-year % change): Occupancy: 71.5% (+10.3%) ADR: BRL907.20 (+35.5%) RevPAR: BRL648.33 (+49.4%) The only month with higher ADR and RevPAR in Rio was August 2016 during the Summer Olympics. The first night of the R...
Madonna Concert Drove Rio de Janeiro’s Hotel Performance in May
CoStar Group | June 12, 2024
WASHINGTON – 12 June 2024 –Madonna’s final concert of her Celebration Tour pushed Rio de Janeiro’s hotel performance in May, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. May 2024 (year-over-year % change): Occupancy: 62.0% (+6.0%) Average daily rate (ADR): BRL729.06 (+19.9%) Revenue per available room (RevPAR): BRL452.14 (+27.2%) On Saturday, 4 May, Madonna wrapped her Celebration Tour with a free concert on Rio de Janeiro’s Copacabana Beach, which attracted over 1.6 million fa...
Rio de Janeiro Room Rates Peaked During Carnival
CoStar Group | March 13, 2024
WASHINGTON – 13 March 2024 – Helped by Carnival, Rio de Janeiro’s hotel industry recorded its highest average daily rate (ADR) and revenue per available room (RevPAR) since 2016, according to February preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. February 2024 (year-over-year % change): Occupancy: 69.6% (-4.7%) Average daily rate (ADR): BRL996.92 (+9.1%) Revenue per available room (RevPAR): BRL694.02 (+4.0%) Carnival took place 9-17 February, and the market’s room rates peaked on the third and fourth night of the fe...
