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LONDON – Hotels in the Central/South America region reported negative performance results during April 2019, according to data from STR.
U.S. dollar constant currency, April 2019 vs. April 2018
Central/South America
Occupancy: -3.2% to 56.6%
Average daily rate (ADR): -18.5% to US$98.03
Revenue per available room (RevPAR): -21.1% to US$55.48
Local currency, April 2019 vs. April 2018
Cusco, Peru
Occupancy: +4.8% to 73.7%
ADR: 14.4% to PEN500.33
RevPAR: +19.9% to PEN368.96
STR analysts note that the absolute ADR level was significantly higher than recent April averages in the market. Demand was up 6.3% for the month, largely driven by Semana Santa, which pushed occupancy for the week leading up to Easter to 86.1% and ADR to PEN613.13.
Bogota, Colombia
Occupancy: -9.7% to 53.3%
ADR: +3.0% to COP277,346.88
RevPAR: -7.0% to COP147,834.46
The poor performance was due to a mix of meaningful supply growth (+4.9%) and lower demand (-5.4%) in the market. According to STR analysts, that drop in demand was largely due the Easter calendar shift from 1 April in 2018 to 21 April in 2019. With more days around the holiday falling in April this year, performance comparisons were effected as business demand is slower around Easter. Bogota is a market largely dependent on business travel.
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