WASHINGTON – 11 December 2024 – The 2024 G20 Summit pushed Rio de Janeiro’s hotel industry to its highest average monthly daily rate (ADR) and revenue per available room (RevPAR) since August 2016, according to November preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
November 2024 (year-over-year % change):
Occupancy: 76.3% (-0.3%)
Average daily rate (ADR): BRL 1,164.76 (+45.0%)
Revenue per available room (RevPAR): BRL888.64 (+44.5%)
In addition to the jumps in ADR and RevPAR, the market’s occupancy reached its highest this year.
The G20 Summit (18-19 November) pushed the market’s ADR to BRL 2,711.74 and BRL 2,787.69, respectively. RevPAR peaked the Sunday before the summit at BRL 2,194.82, which was a record for the market.
Rio de Janeiro’s occupancy peak on 16 November (92.6%) was the highest figure seen in the market since November 2023.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
News Media Contact
Karolina Capova
Media Relations Executive – STR
media@str.com
ABOUT COSTAR GROUP, INC.
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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