Brazilian hotel occupancy rates up, but pre-pandemic numbers won’t be reached until 2023
The hotel sector in Brazil ended 2021 with an occupancy rate of 43%, up 16.5 percentage points from 2020.
However, compared to 2019, the sector is still declining. In the pre-pandemic period, occupancy was 60.2%.
The data was published Thursday (15) in the study “Hotelaria em Números 2022,” conducted by JLL in collaboration with the Forum of Hotel Operators of Brazil (FOHB) and Resorts Brasil.
This year shows signs of improvement as demand increases, but a full recovery is not expected until 2023.
“The pandemic has affected the market in at least four different phases. First, we experienced the period of greatest constraint, when travel was halted.”
“In September 2020, some leisure tourism returned,” Ricardo Mader, director of the valuation and advisory services at JLL, estimated in a statement.
The average daily rate decreased 0.7% to R$212.20 in 2021 compared to 2020.
Compared to the performance of the Inflation Correction Index (IPCA), the average daily rate of hotels in the country in 2021 is 42% lower than the average daily rate in 2011, which was R$250 (US$50) in 2019.
The RevPar (revenue per available room, one of the leading indicators of the sector) closed at R$91, up 59.6% compared to 2020 but down 39% from 2019.
“In general, hotels survived, but only with the capital contribution of the owners, who financed the working capital,” explains Mader.
2022
The study indicates that the first seven months of 2022 have already seen an improvement in occupancy rates and a recovery in average daily rates.
From January to July, the average daily rate gap with the IPCA (42% in 2021) fell to 26.5%.
According to the study, the industry’s performance should continue to improve in the coming years as demand is fueled and hotel supply is expected to remain stable without massive new development.
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Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+0.30%
175,664.62
+0.30%
65,561.46
-0.41%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 175,664.62 | +0.30% | +21.85% | 175,135.41 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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