According to STR, hotels in Central and South America recorded mixed Q2, 2016 results when reported in U.S. dollar constant currency.
Compared with the three key performance metrics from Q2 2015, the Central and South America region reported a 5.1% decrease in occupancy to 54.1%. Average daily rate was up 5.3% to $89.75. Revenue per available room was flat at $48.58.
Central and South America results were mixed when compared with June 2015. The region reported a 4.6% decrease in occupancy to 54.2%. ADR was up 1.7% to $86.48. RevPAR fell 2.9% to $46.88.
Performance of featured countries for Q2 2016:
Argentina experienced a 5.5% decrease in occupancy to 51.9%, but a 53.2% spike in ADR to ARS1, 535.76 drove RevPAR up 44.7% to ARS797.21. The significant increase in rate came as a result of inflation. Occupancy has been down consistently in the country, but STR analysts expect demand to grow as a result of the new four-year Tourism National Plan.
Brazil reported decreases across the three key performance metrics. Occupancy fell 7.8% to 51.6%; ADR was down 3.6% to BRL279.08; and RevPAR dropped 11.1% to BRL143.88. STR analysts attribute consistent performance declines this year to the country's economic downturn, fear over the Zika virus and steady supply growth ahead of the Summer Olympics.