STR Global Saw October Occupancy Boost for Americas Region

STR Global Saw October Occupancy Boost for Americas Region
By Kerry Medina

STR Global reported that the Americas region ended October with a 2.8 percent increase in occupancy to 62.9 percent, a 4 percent gain in average daily rate to $106.69, and a 6.9 percent jump in revenue per available room to $67.14.

Among the key markets in the region, Miami, Florida, rose 9.3 percent in occupancy to 74.8 percent, reporting the largest increase in that metric, followed by Alberta, Canada (+8.2 percent to 64.1 percent), and Rio de Janeiro, Brazil (+7.4 percent to 79.2 percent). Buenos Aires, Argentina, posted the largest occupancy decrease, falling 10.0 percent to 67.4 percent, followed by Vancouver, Canada, with a 9.4-percent decrease to 62.6 percent.

Two markets experienced ADR increases of more than 15 percent: Sao Paulo, Brazil (+21.2 percent to $147.38), and San Francisco, California (+19.4 percent to $188.24). Vancouver (-5.4 percent to $132.43) and Washington, D.C. (-0.5 percent to $158.80), ended the month with the largest ADR decreases.

Four markets achieved RevPAR increases of more than 15 percent: Miami (+22.4 percent to $105.71); Sao Paulo (+21.3 percent to $102.30); San Francisco (+20.4 percent to $161.27); and Rio de Janeiro (+18.2 percent to $160.99). Vancouver fell 14.3 percent in RevPAR to $82.86, reporting the largest decrease in that metric.