Lodging has been severely affected by the closure of Chile’s borders during 2020 and 2021 and the cancellation of the cruise season between the peak months of October 2020 to March 2021. During 2020 many hotels had to close due to government restrictions, operating for as little as six months of the year, with some even closing indefinitely in March 2020 after COVID-19 first hit the country.
Short-term rentals within Chile saw huge gains before 2020, but the cv19 pandemic put the brakes on with the category suffering significant losses in 2020 and 2021. In most cities in Chile, the number of short-term rental listings has fallen by almost half, thereby reducing the sales potential.
Although chained hotels have been severely affected by the COVID-19 pandemic most of them continue to withstand the challenges and have even found opportunities for investment. Nevertheless, the drop in income has forced the Hotel Santiago chain to sell The Ritz Carlton Hotel, one of its signature hotels, during 2021.
Chile is a country with vast biodiversity and varied natural landscapes that include deserts, native forests, mountains, and glaciers that have not yet been fully utilised in tourism unlike in other world-class destinations. The Natural Tourism Service (Sernatur) recognises that sustainability is an important issue for international travellers, which is why it has supported companies and hotels within the industry to promote responsible tourism.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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