COVID-19 webinar summary: 5 key points on Brazil hotel performance, 2 December
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Brazil.
Regional markets
Brazil’s regional destinations have continued leading recovery in the market thanks to the demand of national tourists. For instance in October, the São Paulo Regional market recovered 84.3% of its 2019 occupancy comparable. São Paulo recovered just 69.6% using that same 2021 vs. 2019 measurement.
Business is coming
Like the rest of the world, leisure markets in Brazil have seen steady occupancy increases due to rising domestic demand. However, corporate demand and events are starting to resume in São Paulo. During the Brazilian Grand Prix held in mid-November, the market surpassed its 2019 occupancy levels.
Resorts vs. Urban Hotels
Due to continuous leisure demand growth, resorts continue to lead rate recovery in the country. For the October year-to-date period, resorts posted a 33% ADR increase over 2019 levels, whereas room rates in city hotels were down 15%.
School holidays
Earlier this year, on the day before school holidays (7 September), resort occupancy reached 74.6%.
Interior vs. Littoral Resorts
In October, hotels located in the littoral saw occupancy levels of 79.4%, while hotels located in the interior of the country reached just 45.9% occupancy.
For further insights into COVID-19’s impact on global hotel performance, visit our content hub.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.
