São Paulo’s hotel industry is celebrating its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) on record, thanks to a series of exciting events, according to preliminary November data from CoStar.
November 2023 (year-over-year % change):
- Occupancy: 71.9% (+5.0%)
- Average daily rate (ADR): BRL749.67 (+20.7%)
- Revenue per available room (RevPAR): BRL539.37 (+26.8%)
For the second time since November 2019, the market’s occupancy level exceeded 70%.
During the month, the highest occupancy levels were observed on Wednesday, 8 November (90.4%), the night of a soccer match between São Paulo and Bragantino, and Wednesday, 29 November (90.0%) – the night of the São Paulo vs. Bahia match.
In addition to these sporting events, the market welcomed several other significant events such as UFC Fight Night, the Brazilian Grand Prix (which pushed daily ADR levels above BRL1,000), and Taylor Swift’s Eras Tour.
With occupancy levels above 50% on almost every day, São Paulo’s daily occupancy levels were robust throughout the month, except for Wednesday, 1 November (46.0%).For more information about the company and its products and services, please visit www.costargroup.com.
 and Revenue Per Available Room (RevPAR) in November. Discover the latest industry insights and trends in this exclusive report.){kind=link}