Brazil benefited greatly from the FIFA World Cup this past summer. apartment for sale in qatar
According to STR Global, the 2014 World Cup, which took place from June 12th to July 13th, resulted in solid hotel efficiency improvements in host country Brazil during the months of June and July.
Nine of the 12 cities that hosted matches during the tournament were monitored by STR Global: Belo Horizonte, Brasilia, Curitiba, Fortaleza, Manaus, Porto Alegre, Rio de Janeiro, Salvador, and So Paulo.
"The FIFA World Cup is a very famous tournament that attracts fans from all over the world," said STR Global managing director Elizabeth Winkle. "The tournament drew tourists from all over the country as well as from around the world. The World Cup, as anticipated, had a positive effect on hotel performance in Brazil during June and July "..
Rio de Janeiro outperformed the other host cities in terms of occupancy and average daily rate. Except for Fortaleza, all host cities recorded higher occupancy in June than in July, despite So Paulo having nearly the same occupancy in both months. There were more matches/teams playing during the Group Phase of the tournament in June, which explains the higher demand levels.
Throughout the tournament, Rio de Janeiro, which hosted the media center as well as seven matches, including the finals, was able to sustain high occupancy and ADR levels.
In June, hotels in Brazil saw a 50.1 percent rise in average daily rate (ADR) and a 36.1 percent increase in July. The rise in ADR was seen in all host cities; however, occupancy levels fell in all host cities as compared to 2013.
On a 12-month moving average basis, Brazil's production increased by 2.0% in June 2014. Due to a large supply base, Rio de Janeiro and So Paulo increased supply by 1.4 percent and 0.6 percent, respectively. Prior to the World Cup, Brasilia saw a 4.2 percent rise in supply.
There are 384 new hotels in the pipeline for Latin America.
According to the STR Global Construction Pipeline Report published in July 2014, Central and South America's combined hotel development pipeline includes 384 hotels with a total of 62,958 new rooms.
Projects in construction, final planning, and planning stages are included in the total under contract results, but projects in the unconfirmed stage are not.
Three chain size divisions accounted for more than 20.0 percent of rooms under contract: upscale (23.3 percent with 14,696 rooms), midscale (22.3 percent with 14,022 rooms), and upper midscale (22.3 percent with 14,022 rooms) (22.2 percent with 13,970 rooms).
With 7,289 rooms under construction, the luxury category accounted for the highest percentage of rooms under construction (29.8%). The midscale segment (19.8% with 4,841 rooms) and the upper midscale segment (15.0%) each accounted for more than 15.0 percent of rooms under construction (19.7 percent with 4,820 rooms).