Published on : Friday, January 31, 2014
Final numbers for the hotel industry are now in for the Americas, reflecting total year end. The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars during December 2013, according to data compiled by STR and STR Global.
Compared to December 2012, the Americas region reported a 2.8-percent increase in occupancy to 50.5 percent, a 3.6-percent increase in average daily rate to US$112.38 and a 6.5-percent increase in revenue per available room to US$56.80.
“The slight declines of the three major indicators throughout Central and South America were in part led by the negative effect currency exchange rates had for hotels in Brazil and Argentina”, said Patricia Boo, senior business development manager at STR Global.
“On the other hand, Panama’s new supply continues to grow at a higher pace than the demand is growing with more than 1,800 new rooms in 2013 and 3,500 more in our active pipeline”, Boo said. “The biggest pipeline we see is in Brazil with more than 30,000 rooms, of which more than 70% are in the Economy, Midscale and Upper Midscale segments”.
Among the key markets in the region, Toronto, Canada (+15.2 percent to 58.3 percent), and Chicago, Illinois (+10.7 percent to 53.7 percent), reported the only double-digit occupancy increases for the month. Panama City, Panama, posted the largest occupancy decrease, falling 7.1 percent to 46.9 percent.
Chicago (+11.5 percent to US$116.37) led ADR growth with the only double-digit increase in that metric. Panama City, Panama, fell 8.9 percent in ADR to US$102.05, reporting the largest decrease in that metric.
Chicago (+23.5 percent to US$62.48) and San Francisco, California (+13.7 percent to US$115.86), led RevPAR growth in the region. Panama City (-15.3 percent to US$47.91) posted the largest RevPAR decrease.
Source: STR and STR Global.