The Americas Hotel Industry Performs Well in March
STR Global reported this week that hotels across the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars during March 2014.
Compared to March 2013, the Americas region reported a 2.8-percent increase in occupancy to 65.2 percent, a 3.4-percent increase in average daily rate to US$117.93 and a 6.3-percent increase in revenue per available room to US$76.89.
Among the key markets in the region, Mexico City, Mexico, reported the largest occupancy increase, rising 15.9 percent to 71.2 percent. Santiago, Chile, followed with an 11.9-percent increase to 81.5 percent. Rio de Janeiro, Brazil, fell 10.8 percent in occupancy to 71.6 percent, posting the largest decrease in that metric.
San Francisco, California (+11.0 percent to US$185.59), and Santiago (+10.3 percent to US$206.08) achieved the largest ADR increases.
Four markets experienced double-digit RevPAR increases: Santiago (+23.4 percent to US$167.94); Mexico City (+17.0 percent to US$97.88); San Francisco (+14.0 percent to US$148.55); and Los Angeles, California (+12.5 percent to US$113.76).
Panama City, Panama, reported the largest decreases in both ADR (-9.5 percent to US$109.77) and RevPAR (-15.1 percent to US$60.53).
During the first quarter, the Americas region's occupancy increased 2.9 percent to 59.4 percent, its ADR was up 3.0 percent to US$115.22, and its RevPAR increased 5.9 percent to US$68.42.Performances of key countries in March 2014* (all monetary units in local currency):