August Rate and RevPAR Up for the Americas

As was the case for the United States' August lodging performance, hotels across the Americas reported year-over-year increases to average daily rate and revenue per available room, despite a drop in occupancy, according to STR Global. Average daily rate was up by 4.1 percent across the region in U.S. dollars, and RevPAR increased by 2.6 percent, while occupancy dipped by 1.5 percent.

Santiago, Chile, and Lima, Peru, both experienced rather sharp declines in occupancy -- down by 9.2 percent and 13.6 percent, respectively -- but saw very strong average daily rate gains. In Santiago, where a dry winter affected the number of ski tourists coming to the region, the rate shot up by 14.7 percent in local currency. And in Lima, rates skyrocketed by 19.7 percent in local currency. Despite a drop in leisure tourists (and a comparison to a strong August 2014), the strong Peruvian economy pushed up the average daily rate, according to the STR report.

In Brazil, Rio de Janeiro improved on a relatively weak August 2014, with nearly flat occupancy (up by 0.6 percent) but an increase of 4.9 percent to the average daily rate and 5.5 percent to RevPAR.

For U.S. August numbers, see our recent coverage here.