The impact on the lodging industry during 2020 and 2021 has been significant, with a large number of hotel closures, both permanent and temporary. This is especially seen in Buenos Aires City, which is one of the most affected by the lack of international tourism.
A new temporary rental alternative has begun to operate locally in Argentina, based on an app called Alohar. The service offers the price of its rentals in Argentine pesos which, for the local tourist, is much more attractive since classic lodging rental platforms operate in USD and therefore users lose out on exchange rates.
A reduction in rates, such as seen in the last year, offers an opportunity for recovery in the lodging industry. This will be a particularly attractive draw for high-end hotels, due to premium luxury being offered for lower prices, and will appeal to both domestic and international tourists alike (once the borders are fully opened).
It will be important for hotels to continue to expand their offerings whilst restrictions remain on tourism. For example as seen with “Room Office” services and restaurant takeaway and delivery offerings to the public.
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This report originates from Passport, our Lodging research and analysis database.
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