Brazil's strong economic growth is leading to a substantial increase in RevPAR (revenue per available room) so far in 2011, as recorded by the international consultancy Jones Lang LaSalle Hotels, through a survey of more than 400 hotels, condominiums and resorts.
According to the firm, in 2010 Brazil presented an increase in RevPAR of 17.3%, the highest in recent years and the trend indicates that this figure will be exceeded this year. "Growing demand for domestic and international travel is driving occupancy rates in all markets across the country," said Ricardo Mader, director of Jones Lang LaSalle Hotels.
The executive explained that the increase in the daily averages of RevPAR exceed the growth of the national GDP, which shows a rapid and continuous recovery of the sector.
Despite this trend, the study concludes that supply levels remain subdued and that supply growth in the short term will not be explosive; This was stated by Manuela Gorni, regional director of the consultancy in Brazil: "The number of rooms under construction and advanced design phase for the next three years imply an increase of 6.8% in the total number of rooms available in the country."
