AMERICAS REPORT

En Fuego

SOUTH AMERICA ’ S METEORIC 2024 PERFORMANCE .

Contrybuted by LAURA RESCO , DIRECTOR OF HOTEL INTELLIGENCE – AMERICAS , HOTSTATS

After a few years of political and economic instability that delayed the path toward post-pandemic recovery , 2024 is quickly becoming a stellar year for hoteliers in South America . For the period January through August , and benchmarked against Central America and the Caribbean , South America achieved the greatest year-overyear expansion in total revenue per available room ( TRevPAR ) at 12.1 %. The region also exhibited the most significant gross operating profit per available room ( GOPPAR ) growth out of the three at 12.5 % and was the only one to avoid GOP margin erosion .

The Story So Far

YOY Change YTD through August : 2024 vs 2023 Central America , Caribbean and South America – USD

Central America

TRevPAR

GOPPAR

GOP %

2.7 %

3.6 %

2.4 pts

Though year-on-year comparisons have been positive for all months of 2024 so far ,

TRevPAR

GOPPAR

GOP %

Figure 1 : YOY % change in TRevPAR , GOPPAR and GOP margin .

Caribbean

5.4 %

4.1 %

0.5 pts

it was in the second quarter that the region really took off . While TRevPAR and GOPPAR

South America

TRevPAR

GOPPAR

GOP %

12.1 %

12.5 %

0.1 pts

increased by 5.2 % and 3.6 %, respectively , in Q1 , South America moved into double-

74 hotelsmag . com Oct / Nov 2024