Hospitality Sales and Marketing Association International
Hospitality Sales and Marketing Association International
 
Hospitality Sales and Marketing Association International

knowledge center - fueled by the HSMAI Foundation
About the Knowledge Center

The Knowledge Center, which is the succesor to HSMAI's eConnect, is your source of insights to fuel sales, inspire marketing, and optimize revenue. Fueled by the HSMAI Foundation, here you will find articles, presentations, templates, multimedia, and much more from HSMAI and industry leaders. Many of the Knowledge Center resources are offered exclusively to HSMAI members.

Knowledge CenterSTR: Central/South America hotel performance for July 2016, August 25, 2016

Hotels in the Central/South America region recorded mixed results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2016 data from STR.Compared with July 2015, the Central/South America region reported a 4.9% decrease in occupancy to 56.7%. Average daily rate (ADR), however, increased 10.1% to US$89.84, and revenue per available room (RevPAR) grew 4.7% to US$50.93. Performance of featured countries for July 2016 (local currency, year-over-year comparisons):Ecuador reported decreases across the three key performance metrics. The country's occupancy fell 13.0% to 59.4%; ADR was down 6.8% to US$97.20; and RevPAR dropped 18.9% to US$57.76. According to STR analysts, Ecuador's economy is heavily dependent on the oil industry. With crude oil prices down, and Ecuador being the only fully dollarized South American market, the country has become less competitive for exports compared with neighboring nations like Colombia and Peru. The pair of earthquakes that hit the country's coast on 11 July also affected performance. Panama experienced increases in occupancy (+5.0% to 51.6%) and RevPAR (+1.4% to PAB49.22), whereas ADR dropped 3.4% to PAB95.36. Occupancy has increased year over year for six of the seven months in 2016, while ADR has decreased in five of the seven months. STR analysts believe that the country has become a more attractive tourist destination, as evidenced by a 6.0% year-to-date increase in Transient demand and a 2.9% rise in Group demand.Peru recorded nearly flat occupancy (+0.2% to 65.8%) as well as increases in ADR (+5.2% to PEN442.12) and RevPAR (+5.4% to PEN290.94). The absolute occupancy followed a trend of the last several months, while the rise in ADR is likely due to a 5.6% demand increase in the Luxury and Upper Upscale segments.Performance of featured markets for July 2016 (local currency, year-over-year comparisons):In the month prior to hosting the Summer Olympics, Rio de Jane

 
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