By Richard Mann, Contributing Reporter
RIO DE JANEIRO, BRAZIL - The absolute hotel occupancy level went up in Q1 2019 by 12.2 percent to 63.9 percent. This was the best result for a Q1 in Rio since 2015, while the Average Daily Rate (ADR) value was the highest for an opening quarter since 2016.
STR’s Global Hotel Study report says that March produced significant year-over-year growth in the market with a boost from Carnival.
Occupancy and ADR were up 25.0 percent and 30.0 percent, respectively, leading to 62.5 percent growth in Revenue per . . .