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Meanwhile, Buenos Aires’ market experienced just six days of year-over-year occupancy growth during the month Meanwhile, Buenos Aires’ market experienced just six days of year-over-year occupancy growth during the month

STR: Central & South America Hotel Data for July

Hotels in the Central/South America region reported a slight occupancy decline with significantly higher room rates during July, according to data from STR.

Hotels in the Central/South America region reported occupancy dipped 0.4 percent to 57.5 percent in July, but ADR skyrocketed 85 percent to USD175.13 and pushed RevPAR up 84.3 percent to USD100.69. STR analysts noted that the spike in ADR and RevPAR was due primarily to a 500 percent increase in ADR in Venezuela, caused by inflation of more than 2,000 percent.

Specifically, Lima, Peru, a very popular location for tourists, reported an 8.6 percent decrease in occupancy to 61.3 percent. Meanwhile, Lima’s ADR dropped by 0.5 percent to PEN425.55 (USD129) and RevPAR fell by 9.1 percent to PEN260.92 (USD79).