COVID-19 webinar summary: 5 key points on Latin America hotel performance, 16 September

Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Latin America.

Some are heading in the right direction

For the week ending 22 August, Peru posted the highest occupancy level (43.9%) in Latin America followed closely by Chile (34.6%). Hotels in Colombia and Panama posted the lowest occupancy levels in the region at just 8.1% and 9.3%, respectively.

Lima: Where does recovery stand?

Lima has seen steady occupancy increases due to the government initiative “Apoyo Solidario.” For the week ending 27 June, the market posted a 62.4% occupancy level, its highest weekly occupancy level since March. For comparison, the country’s regional area posted a 13.5% occupancy for the week ending 27 June, its lowest weekly occupancy level since April.

Beach markets in the region are leading the recovery

As we’ve seen in other parts of the world, beach markets are leading recovery in Latin America. In July, Puerto Vallarta posted an occupancy level as high as 23% followed closely by other beach destinations such as Los Cabos (21%), Acapulco (21%), Cancun (20%) and the Caribbean (20%).

Regional markets

Costa Rica’s regional destinations led early recovery in the market thanks to the demand of national tourists. For the week ending 1 August, regional Costa Rica saw its highest occupancy level (25.6%) since isolation began in the country on 18 March. For comparison during the week ending 18 July, San Jose posted a 2.3% occupancy level, the lowest level since March.

Help us launch Forward STAR in Bogota

With your help and participation, STR can launch Forward STAR in Bogota. Occupancy-on-the-books intelligence will not only help us all understand when recovery begins, and provide much-needed context, those insights can be accessed for free when you submit your data. If you are interested, please email sales@str.com or latam@str.com.

Watch the full recording of the webinar here. For further insights into COVID-19’s impact on global hotel performance, visit our content hub.