Hotels in South America registered a 26.8% year-on-year increase in revenue per available room (revPAR) for the year-to-date in August 2011, according to an industry report from STR Global.
The increase was attributed to a 21% rise in the average daily rate (ADR).
ADR in Sao Paulo, Brazil, registered the largest increase at 31.3% and Rio de Janeiro recorded the highest occupancy with a rate of 74.6%.
Improvements in revPAR were reported as even among markets, with Quito recording an increase of 2.1% and Buenos Aires a 2.3% rise, while Caracas fell by 5.1%.
Hotel demand for South America in 2010 increased by 11.2% compared with the previous year and for the first eight months of 2011 it rose by 6.7% over the year-to-date in 2010.
As host of the 2014 FIFA World Cup and the 2016 Olympics, Brazil has 11,612 rooms across its three pipeline phases, while Colombia has 2,312 rooms and Argentina has 1,777.
