LONDON – Helped by an increase in business travel, Bogotá’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary March 2023 data from STR.
- Occupancy: 69.8%
- Average daily rate (ADR): COP 406,329.13
- Revenue per available room (RevPAR): COP 283,530.04
The market’s occupancy level was its highest since November 2022. Daily data shows five days with the metric above the 80% mark, with the highest level reported on Wednesday, 22 March (85.3%), further pointing to recovery in business demand.
More of STR’s analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.
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