WASHINGTON, USA – São Paulo achieved a notable performance in August 2024, recording its highest-ever average daily rate (ADR) and the second-highest revenue per available room (RevPAR), according to preliminary data released by CoStar. This positive trend underscores the growing demand for hospitality in one of Brazil’s largest cities, driven by significant events that took place throughout the month.
The data for August 2024 showed that occupancy rates in São Paulo reached 67.8%, marking a 3.2% increase compared to the same period last year. The ADR hit BRL717.98, reflecting an impressive 20.6% year-over-year growth. Similarly, RevPAR climbed to BRL486.92, a 24.5% increase over the previous year.
The city’s hospitality sector experienced substantial boosts due to key events. One of the most prominent drivers of this performance was the Concrete Show, an international trade event for the construction industry held at the beginning of August. On Tuesday, 6 August, the first night of the show saw occupancy rates spike to 91.6%, with the ADR reaching BRL794.57 and RevPAR at BRL727.50. The second night of the event also maintained high levels, with 91.5% occupancy, and corresponding ADR and RevPAR values of BRL780.01 and BRL713.55 respectively.
Another significant driver of hotel demand was the 2024 Brazilian Cup quarterfinal match between São Paulo and Atlético Mineiro, which took place at the end of August. On the eve of the match, Wednesday, 28 August, hotel occupancy surged to 89%, while the ADR and RevPAR reached BRL777.21 and BRL692.08, respectively.
The surge in both business and leisure travelers during these major events is a testament to São Paulo’s position as a major hub for international and domestic activities. This strong performance in key hotel metrics not only reflects the resilience of the city’s hospitality industry but also points to a robust recovery trajectory for the sector after the challenges of recent years.
With its ability to attract significant trade shows, conferences, and sporting events, São Paulo continues to establish itself as a critical player in Brazil’s tourism and hospitality landscape, making it a prime destination for travelers seeking both business and leisure experiences.
The article São Paulo hotels see record ADR, strong RevPAR growth in August first appeared in TravelDailyNews International.
