Lodging in Latin America continues to grow surpassing the different socio-economic factors and challenges that have affected its performance in recent years. Mexico and Brazil are the preferred destinations, dominating sales of the top ten companies. Award winning countries like Peru and Chile have gained international recognition marketing promotions. The middle-class traveling appeal grows within the region creating an opportunity for mid-market, budget hotels and short-term rentals.
Due to a more optimistic economic situation in countries like Brazil and Argentina, favorable exchange rates and new marketing strategies, Latin America manages to attract travelers and now targets new markets in Europe and Asia.
Historically these countries have dominated the market being a multi-destination and offering varied lodging supply. International hotel chains to continue to invest in them focusing on different audiences such as business travelers or millennials.
Latin America is by far Airbnb’s fastest growing market. The initial interest of governments to regulate the platform formally has advanced slowly. The extra income Airbnb provides to those who have been affected by economic instability will result in a strong growth in short term rentals listings in the forecast.
The expansion of low cost airlines in the region has allowed for people to opt for regional destinations and travel more frequently, saving money and increasing the lodging demand.
Online intermediaries allow to consumers to compare prices, read reviews, view photos, obtain discounts and centralize lodging options which are a critical advantage versus an offline booking experience.
To align with a price sensitive consumer and the informal offer of Airbnb, lodging players such as Marriott battle expanding through low cost, quality brands such as Fairfield and Moxy.
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