STR: Colombia’s daily hotel occupancy sinks to 3.9%
BOGOTÁ—As the COVID-19 pandemic in Colombia has worsened, the country’s daily hotel occupancy decreased to as low as 3.9% on 29 March, according to preliminary data from STR.
“Daily occupancy in the country was as high as 77.8% on 19 February, but a sharp downward trend began as the number of confirmed COVID-19 cases grew and the government declared a state of emergency on 17 March,” said Patricia Boo, STR’s area director for Latin America. “The numbers are truly astonishing as STR’s most recent data for the country showed that just four of 100 rooms on average were occupied.”
At the market-level, significant downward movement in Bogotá began on 17 March as the government implemented measures to combat the spread of COVID-19. In year-over-year comparisons, Bogotá reached its steepest occupancy decline on 31 March (-94.0%).
STR continues to monitor the COVID-19 impact on global hotel industry performance. More analysis, including upcoming and recorded webinars for South America and other regions, can be found here.
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STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate 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), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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