Brazil | Period of Continuous Growth in the Hotel Sector

 

Brazil, the largest and most populated nation in South America, is experiencing a positive period with tourism that continues to be a boost for the economy and especially recently stands out the hotel sector is having a period of continuous growth.

All that is revealed by the latest data provided by FOHB, Forum of Hotel Operators of Brazil that presents the main performances indicators of the hotel industry,  with statistics, occupancy rate, average daily rate, and RevPar in some of the country's largest cities.

In the period from January to August 2024, the sector recorded significant increases in key performance indicators, which reinforces confidence in the recovery and expansion of the domestic hotel industry.

In the survey developed by FOHB, up to 537 hotels of associated hotel chains and responsible for 85.689 UM, housing units, the project occupation rate increased by 1.2% in the first eight months of 2024 compared to the same period of the previous year, were analyzed.

As a specific note at the geographical level, it should be noted that the north-eastern region of Brazil had a rather significant increase of 8.1% while the north had an increase of 3.3%, the center-west recorded a slight increase of 0.6% and in the south-east of the country the growth reached 0.9%.

The overall data indicate a solid recovery when compared to the challenges undertaken in recent years with the resumption of leisure and business travel.

As far as the average tariff of the sector is concerned, it has increased by 10.6% with particular emphasis on the northern region with 16.5%  followed in the territorial ranking by the Centre-West 13.8%, the South-East 10.9%, the North-East 10.0% and the South 5.2%.

An analysis by hotel category shows that the improvement was positive in all segments, occupancy rate increased by 0.7%, average daily rate increased by 6.8% and RewPar increased by 7.5%.

As far as medium-sized hotels are concerned, occupancy is; increased by 2.2% , while the average daily rate increased by 11.4% and RevPar growth by 13.8%.

With regard to the high segment is increased by 0.3%, the average daily fare is incremented by 14.7% and the RevPar is increased by 15.1%.

In the panoramic view concerning the Brazilian hotel industry in 2024 forecasts investments of R$ 8.4 billion until 2028 with an increment of 26.9% compared to the 2023 outlook.

Link - https://www.expreso.info/noticias/hoteles/103026_crece_el_segmento_hotelero_del_brasil