The hotel industry in Cali, Colombia, posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record during the 16th UN Biodiversity Conference (COP16), according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Cali saw both daily and monthly records because of COP16.
Daily performance spiked on Monday, 28 October across each of the three key performance metrics: occupancy (+210.6% to 95.8%), ADR (+307% to COP 1,143,946.80) and RevPAR (+1,164.3% to COP 1,095,344.81). These were the highest ADR and RevPAR levels ever recorded in the market, while occupancy was its highest since 16 November 2023 (96.5%).
The market’s monthly performance jumped as well. Monthly ADR (COP 579,844.02) and RevPAR (COP 353,530.31) reached all-time highs, representing year-over-year increases of 100.2% and 113.6, respectively.
For more information about the company and its products and services, please visit www.costargroup.com.
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