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Hotels in the Central/South America region recorded mixed Q3 2016 results when reported in U.S. dollar constant currency, according to data from STR.Compared with Q3 2015, the Central/South America region reported a 3.2% decrease in occupancy to 57.1%. However, average daily rate (ADR) was up 19.0% to US$98.92, and revenue per available room (RevPAR) grew 15.2% to US$56.45. Performance of featured countries for Q3 2016 (local currency, year-over-year comparisons):Argentina saw a slight dip in occupancy (-1.6% to 57.3%), but a 54.5% spike in ADR to ARS1,602.79 pushed RevPAR up 52.0% to an all-time quarterly high (ARS918.22). The absolute occupancy level was the lowest for a third quarter in Argentina since 2012. STR analysts point to a decline in corporate business, as evidenced by an 18.7% year-over-year decrease in Contract demand, as a driving reason behind the low occupancy. Additionally, hotels in the country became expensive within Latin America due to high inflation rates. The ARS1,602.79 absolute ADR level was the second highest (Q1 2016) for any quarter on record in Argentina.Brazil experienced a 5.7% decrease in occupancy to 55.0%. However, ADR was up 27.8% to BRL362.95, and RevPAR grew 20.5% to BRL199.67. The Summer Olympics and Paralympics helped Brazil achieve three national records in August: ADR (BRL493.34), RevPAR (BRL283.65) and revenue (BRL2.1 billion). At the same time, occupancy has declined in year-over-year comparisons for 10 consecutive quarters in Brazil as supply has grown by at least 2.0% in 11 straight quarters. Specifically in Q3 2016, supply increased 4.7% year over year.Colombia recorded increases across the three key performance metrics. Occupancy in the country increased 2.9% to 60.6%; ADR was up 1.3% to COP261,944.73; and RevPAR rose 4.3% to COP158,754.63. Absolute occupancy in the country eclipsed 60.0% for the first quarter since Q4 2013, and RevPAR reached its highest level for Q3 since 2010. STR analysts also no
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