“Daily occupancy in the country was as high as 77.8% on 19 February, but a sharp downward trend began as the number of confirmed COVID-19 cases grew and the government declared a state of emergency on 17 March,” said Patricia Boo, STR’s area director for Latin America. “The numbers are truly astonishing as STR’s most recent data for the country showed that just four of 100 rooms on average were occupied.”
At the market-level, significant downward movement in Bogotá began on 17 March as the government implemented measures to combat the spread of COVID-19. In year-over-year comparisons, Bogotá reached its steepest occupancy decline on 31 March (-94.0%).
STR continues to monitor the COVID-19 impact on global hotel industry performance. More analysis, including upcoming and recorded webinars for South America and other regions, can be found here.