COVID-19 webinar summary: 5 key points on Latin America, 28 April
Knowing you might not have time to watch our full webinars, we’re pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in the Latin America region with a focus on Brazil.
Returnee accommodation government measures impact Lima occupancy
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 second week of April due to the government initiative “Apoyo Solidario.” The Peruvian government facilitated PEN26 million (more than US$7 million) to help quarantine returnees in an initiative where public and private organizations, such as hotel associations, worked to guarantee accommodation, and A&B.
Brazil: all hotel classes affected by COVID-19
All hotel classes in Brazil have been affected by COVID-19. Luxury and Upper Upscale Hotels posted the biggest occupancy drop (-46.6%), followed closely by Upscale and Upper Midscale (-43.2%) then Midscale and Economy (-40.7%).
São Paulo, one of the cities most affected by COVID-19
São Paulo has been one of the markets most affected by COVID-19. The market presented year-over-year decreases in occupancy as bad as 91% (1 through 17 April). Likewise, occupancy in Rio de Janeiro decreased 74% during that same period of time.
Rio de Janeiro occupancy drop from 11 March
Rio de Janeiro posted declines in occupancy 10 days after the announcement of COVID-19 as a pandemic. Occupancy dropped year over year in Rio de Janeiro (excluding Barra de Tijuca) as steep as 91.6% on 4 April.
ADR declines in Rio de Janeiro and São Paulo
Rio de Janeiro rate increases spiked during 21-26 February due to Carnival 2020 but fell dramatically in the early days of March due to comparison of 2019 Carnival dates. ADR decreases have been more frequent in each of Brazil’s top two markets.