COVID-19 webinar summary: 5 key points on Latin America, 21 April
STR remains committed to keeping the hospitality industry updated on the impact of the COVID-19 pandemic, and our webinar series will provide in-depth updates on world regions around the globe. However, if you are unable to watch the full recording during this stressful time, you can find a summary of key points below.
Peru occupancy reflects government measures to combat the spread of COVID-19
Peru was one of the first countries in the region to implement measures to combat the spread of COVID-19. The country’s year-over-year occupancy declines eased slightly during the first week of April due to an influx of medical workers and first responders in the market.
Returnee accommodation impact Lima occupancy
Lima’s daily hotel occupancy reached an absolute level of 36% on 12 March due to more than 10,000 Peruvians repatriated in quarantine. San Jose, Bogota and Quito posted occupancy levels below 5%.
San Jose: highest occupancy level in Latin America
San Jose posted a 39% occupancy level in March, the highest absolute level in Latin America. Panama City presented the lowest occupancy level in the region.
ADR declines in all Latin America countries
ADR in all Latin America countries has been affected by COVID-19. Among markets, however, San Jose posted just a 1% ADR decrease in March. Rio de Janeiro posted the biggest ADR decline due to the rebound effect of Carnival celebrations.
Luxury and Upper Upscale Class Hotels the most affected
Luxury and Upper Upscale Hotels are the most affected classes among the four main capitals in the region. Midscale and Economy class hotels in Santiago posted the biggest occupancy drop (31%).