Where is Colombia in the recovery cycle?
On 1 September, Colombia lifted one of Latin America's longest COVID-19 lockdowns, scrapping most restrictions after more than five months of quarantines. During that period, the county's borders were shut, curfews were imposed, and residents were only permitted to leave their homes for essential goods.
Now the focus is on how much this lockdown will impact hotel performance into the coming months.
A deep dive into Colombia
Although Colombia saw a slight pickup in occupancy as restrictions eased in September, the country showed one of the lowest occupancy rates in South America due to a much longer lockdown period.
Colombia’s 13.0% occupancy level for September was the country’s highest since March. This trend is expected to continue through October’s data.
Regional markets are leading the recovery
As we have seen in other markets around the globe, regional markets in Colombia are leading the recovery as Bogotá has lagged. In September, Bogotá posted a 9.1% occupancy level, its highest monthly occupancy level since March. For comparison, the provincial market posted a 19.3% occupancy in September, also the highest occupancy level since March.
Cartagena: Where does recovery stand?
Cartagena has seen slight occupancy increases due to rising domestic demand. In September, the market posted a 7.0% occupancy level, its highest occupancy level since March.