South America Hotel performance
HVS South America Outlook & Opportunities 2023: Clearing Skies Ahead
Fernanda L’Hopital | June 5, 2023
By Fernanda L'Hopital After several economic and political disruptions across South America, there is now greater clarity in several countries, giving rise to compelling opportunities in some urban markets and across the leisure sector. The outlook appears bright across much of the region, and I am pleased to share some of my insights below. Brazil After overcoming the impact of the Omicron variant, the Brazil hotel market began a notable recovery. The demand growth allowed average daily rate (ADR) to increase. In 2022, most of the major cities recorded a RevPAR close to the 2019 level, and those with a sound mix of corporate and leisure...
South America Hotel Profitability Still Slumping
STR | April 6, 2022
HENDERSONVILLE, Tennessee — April 6, 2022 — Key hotel markets in South America are still struggling to regain profitability due to inflation, pandemic-driven gaps in travel, and lessened impact from events, according to STR’s February 2022 P&L data release. Building on its initial launch in the U.S., STR now features monthly P&L data reporting in four world regions: Europe, Middle East/Africa, Asia Pacific, and the Americas. “Most of the markets in the region are only averaging around 36% of their pre-pandemic levels in gross operating profit per available room,” said Patricia Boo, STR’s area direction f...
