Rock in Rio festival boosts Rio de Janeiro’s hotel industry to its highest ADR and RevPAR in eight years, rivalling Olympic levels in 2016.
WASHINGTON – Boosted by the Rock in Rio music festival, hotel industry in Rio de Janeiro reached its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) in eight years, according to September preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
September 2024 (year-over-year % change) in Rio de Janeiro:
- Occupancy: 71.5% (+10.3%)
- ADR: BRL907.20 (+35.5%)
- RevPAR: BRL648.33 (+49.4%)
The only month with…
