Travel is resilient in Latin America

After booming hotel occupancy levels around the region last year, 2024 is showing normalization

Mar 19, 2024

Latin America is facing the same macroeconomic challenges as the United States - namely, still-high interest rates hampering real estate transactions and persistent inflation - but travel trends remain resilient.

Key takeaways

  • In 2023, occupancy in Central America grew 8% over 2022 and occupancy in South America grew 2% over the prior year. Both ended 2023 at around 60% total occupancy;
  • Rate growth in Central and South America, like in North America and elsewhere, is starting to decelerate;
  • But the opportunity in Latin America is in the hotel development pipeline.

Get the full story at HNN

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