Tuesday 29 September 2015

PERU: Lima Hotels Receive High Acclaim

Lima hotels demonstrated a “positive change” in the first half of 2015 according to a report published by HVS/HotelInvestment, reports Andina news agency.

The Peruvian capital was the only South American city given this recognition in the study entitled, “Market Pulse: South America.” The study publishes data on hotel performance in the region’s metropoli.

Lima achieved a “positive change” in the Revenue Per Available Room (RevPar) category, in other words, it reached high occupancy.

“Lima and Quito [are] leaders in occupancy. Both cities achieved levels close to 70% during the first quarter of 2015,” the report pointed out.

The report displayed positive rate variations for Lima, unlike any other South American city.

“With a slight upturn in the Peruvian economy, demand continued to grow, albeit at a more moderate pace, managing to surpass the growth in supply,” it reads.

The report listed the South American RevPar results as follows:
Lima: 1.6%
Bogota: -15.8%
Quito: -5.3%
Santiago: -9.8%
Rio de Janeiro: -40.7%
Sao Paulo: -27.9%
Montevideo: -6.2%
Buenos Aires: -2.7%

As demonstrated, HVS reported a decline “in occupancy in the rest of the analyzed markets.”

The results for the report are based on an extensive database composed by STR Global data internal records of HVS, HotelInvest and by third parties.

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