Strategy Briefing

Lodging in Latin America

42 pages, Mar 2018

US$1,325

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About This Report

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Lodging in Latin America continues to grow despite the different socioeconomic factors that have affected its performance in recent years. Mexico and Brazil are the preferred destinations for domestic as well as international travelers, dominating lodging sales of the top 10 companies. Growing interest among the middle class in travelling within the region underpins growth opportunities for mid-market, budget hotels and short-term rentals.

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Overview

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Economic instability and external factors affected growth in recent years

Economic instability in source countries such as Brazil and Argentina made travellers from these countries more cautious in terms of expenditure and travelling. The Zika outbreak in 2015 made destinations in Latin America also lose their appeal among foreign tourists, slowing down growth in the region.

Brazil and Mexico dominate the lodging market

These countries dominate the lodging market due to their multi-destination offer. High touristic demand makes for lucrative business for international hotel chains to continue to expand their operations.

Airbnb’s fastest growing market

Latin America has become Airbnb’s fastest growing market, and governments’ interest in integrating the platform formally will result in strong growth of short-term rentals over the forecast period.

Low cost format spurs internal tourism

The entry of the low cost format in some countries has allowed a growing middle class to travel to more regional destinations, boosting lodging demand.

Online intermediaries sales grow faster than offline

The ability to compare prices, read reviews, view photos, obtain discounts and centralise the range of lodging options in a city is a decisive advantage for a consumer when booking accommodation. Platforms such as Despegar, Booking, Expedia and Atrápalo will increase their sales in the region as more consumers adopt the online format.

Budget hotels expand in the region

To meet the demand from a growing middle class and travelers looking for cheaper options such as short-term rentals, brands such as Ibis continue to expand in various countries and focus on budget accommodation formats.

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Introduction

Scope

Key findings

Regional Overview

Latin America lodging in context

Lodging in Latin America set to overcome socioeconomic factors

Mexico and Brazil show best performance

Formal lodging grows through all-inclusive services

Short-term rentals projects strongest growth over the forecast period

Short-term rentals and mid-market hotels registered dynamic growth

Opportunity for growth in all sectors

Leading Companies and Brands

High fragmentation due to other lodging

Acquisitions and local socioeconomic factors affect performance

Mexico and Brazil hold top positions for companies

Mexican brands dominate the ranking

Forecast Projections

Traditional destinations continue to grow

Online platforms will dominate the forecast period

Country Snapshots

Mexico: market context

Mexico: competitive landscape

Brazil: market context

Brazil: competitive landscape

Peru: market context

Peru: competitive landscape

Argentina: market context

Argentina: competitive landscape

Colombia: market context

Colombia: competitive landscape

Venezuela: market context

Venezuela: competitive landscape

Ecuador: market context

Ecuador: competitive landscape

Chile: market context

Chile: competitive landscape

Appendix

About Euromonitor International’s Travel Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Travel Forecast Model

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Megatrends

Strategy Briefing

Lodging in Latin America

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Economic instability and external factors affected growth in recent years

Brazil and Mexico dominate the lodging market

Airbnb’s fastest growing market

Low cost format spurs internal tourism

Online intermediaries sales grow faster than offline

Budget hotels expand in the region

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Regional Overview

Latin America lodging in context

Lodging in Latin America set to overcome socioeconomic factors

Mexico and Brazil show best performance

Formal lodging grows through all-inclusive services

Short-term rentals projects strongest growth over the forecast period

Short-term rentals and mid-market hotels registered dynamic growth

Opportunity for growth in all sectors

Leading Companies and Brands

High fragmentation due to other lodging

Acquisitions and local socioeconomic factors affect performance

Mexico and Brazil hold top positions for companies

Mexican brands dominate the ranking

Forecast Projections

Traditional destinations continue to grow

Online platforms will dominate the forecast period

Country Snapshots

Mexico: market context

Mexico: competitive landscape

Brazil: market context

Brazil: competitive landscape

Peru: market context

Peru: competitive landscape

Argentina: market context

Argentina: competitive landscape

Colombia: market context

Colombia: competitive landscape

Venezuela: market context

Venezuela: competitive landscape

Ecuador: market context

Ecuador: competitive landscape

Chile: market context

Chile: competitive landscape

Appendix

About Euromonitor International’s Travel Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Travel Forecast Model

Why buy this report?

Want to find out more about this report?

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