{"id":39191,"date":"2023-03-25T12:02:21","date_gmt":"2023-03-25T12:02:21","guid":{"rendered":"https:\/\/hoptraveler.com\/index.php\/2023\/03\/25\/sahic-preview-business-travel-demand-returning-across-south-america\/"},"modified":"2023-03-25T12:02:21","modified_gmt":"2023-03-25T12:02:21","slug":"sahic-preview-business-journey-demand-returning-throughout-south-america","status":"publish","type":"post","link":"https:\/\/hoptraveler.com\/index.php\/2023\/03\/25\/sahic-preview-business-journey-demand-returning-throughout-south-america\/","title":{"rendered":"SAHIC preview: Business journey demand returning throughout South America"},"content":{"rendered":"

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Similar to Panama City, Bogota\u2019s highest day of week occupancy in 2022 was on Wednesdays (at 62.4%).<\/p>\n<\/div>\n

BOGOT\u00c1 \u2013 South America\u2019s weekday lodge occupancy, a lead indicator of enterprise journey, is transferring nearer to pre-pandemic ranges, in line with the newest knowledge from STR<\/strong> that might be introduced on the SAHIC Hotel & Tourism Investment Forum<\/em>.<\/p>\n

Among key markets within the area, S\u00e3o Paulo has seen stronger occupancy restoration on weekends in comparison with weekdays, however shoulder days (Sunday and Thursday), which mix each enterprise and leisure journey, have been the very best performing days available in the market.<\/p>\n

Panama City, however, noticed higher weekday efficiency with Wednesdays displaying the second-highest occupancy degree in 2022 (at 56.3%), solely barely behind Thursdays (56.6%). Sunday was the one day of the week to indicate occupancy under 50% in 2022 (at 47.3%).<\/p>\n

Similar to Panama City, Bogota\u2019s highest day of week occupancy in 2022 was on Wednesdays (at 62.4%).<\/p>\n

\u201cLeisure demand is no longer the main driver of recovery across the region,\u201d<\/em> mentioned Patricia Boo, STR\u2019s senior director, Latin America. \u201cWe can see the return of business travel, not only through weekday performance, but by analyzing the shoulder days when, typically, \u2018bleisure\u2019 demand collapses. While the region\u2019s hotel industry started the year with double-digit occupancy declines from 2019 during shoulder days, the last half of the year brought two months of growth (September and November) and closed the year just 1% below the pre-pandemic comparable.\u201d<\/em><\/p>\n

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\u201cIn corporate cities where STR has a Forward STAR sample, we are seeing booking windows lengthening and occupancy on the books across 90-day periods coming in higher than what was seen the previous year,\u201d<\/em> mentioned Boo. \u201cWhile slower to return, we can expect both business transient and group demand to continue on this recovery trajectory as events and meetings take place throughout the year.\u201d<\/em><\/p>\n

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