Helped by Carnival, Rio de Janeiro’s lodge business recorded its highest common every day fee (ADR) and income per out there room (RevPAR) since 2016, based on February preliminary knowledge from CoStar.
February 2024 (year-over-year % change):
- Occupancy: 69.6% (-4.7%)
- Common every day fee (ADR): BRL996.92 (+9.1%)
- Income per out there room (RevPAR): BRL694.02 (+4.0%)
Carnival came about 9-17 February, and the market’s room charges peaked on the third and fourth night time of the competition – Sunday, 11 February (BRL2,020.40) and Monday, 12 February (BRL1,978.38).
Rio de Janeiro noticed its highest every day occupancy ranges on Wednesday, 21 February (83%), intently adopted by Sunday, 11 February (82.6%) – the third day of Carnival.
General, the market’s every day occupancy ranges remained above the 60% mark aside from Wednesday, 14 February (59.2%).
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