Hotels: Rates in Costa Rica Fall 25%

Because of the restriction measures decreed in the country due to the covid-19 outbreak, between March and April of this year the average hotel rate for two people decreased from $160 to $120.

Friday, May 8, 2020

According to the "Monetary Policy Report" prepared by the Central Bank of Costa Rica (BCCR), in the face of the health crisis, hotel occupancy in the country has plummeted in the first four months of the year, from 90% in January to 15% in April.

See "Tourism, Business and the New Commercial Reality"

Data from the BCCR indicate that Guanacaste and Puntarenas are the provinces where hotel occupancy has fallen the most. See the full official document.

Rubén Ancón, president of the National Chamber of Tourism (Canatur) told Nacion.com that "... an occupation of between 10% and 15% is technically a closure, more so when they are establishments with 400 rooms."

You may be interested in "Tourism and Travel: Consumer Interests and Preferences"

According to Flora Ayub, executive director of the Costa Rican Chamber of Hotels, "... 'there are regions of the country that live off tourism like Tortuguero. There all the activity is linked to this activity. Or La Fortuna, where there are small and medium sized family establishments closed due to the current situation."

According to forecasts from CentralAmericaData, the sharp drop expected in the income of the tourism industry in Central America will be partly explained by the decline in hotel activity and tourist marinas.

For specific forecasts for your country and your business sector, see the interactive report "Information System: Covid-19 and Business Outlook".

Click here to request access.



More on this topic

Tourism: New Reality, New Challenges

June 2020

Attracting executives, pensioners and people willing to work remotely from Costa Rica, who extend their stay in the country for long periods, are some of the business opportunities that businessmen have detected in the current commercial scenario.

Although the sector is practically in the zero season, since the outbreak of covid-19 Costa Rica closed the borders to tourism, and during April and May there were practically no visitors to the country, the businessmen are beginning to prepare themselves to face the new commercial reality that arose from this abrupt change in the ways that people relate to each other on a global level.

Crisis Hits Big Hotels

May 2020

Corporacion Camino Real, Radisson, Hyatt, Marriot, Adriatika, Hilton Garden and Holiday Inn are some of the large hotels that have suspended operations in Guatemala due to the health and economic crisis affecting the world.

As a result of the covid-19 outbreak, the Real Intercontinental Hotel suspended operations from April 1 and according to its managers, the reopening will depend on government regulations.

Tourism in Danger by Covid-19

March 2020

One of the most relevant sectors for the Costa Rican economy is declared in "Total Emergency and State of Calamity", as it is the first time in the "zero" season that total income ceases.

The Board of Directors of the Costa Rican Tourism Institute (ICT) stated that all State institutions, Powers of the Republic, Autonomous and Semi-Autonomous Institutions, as well as Municipalities throughout the country, are required to collaborate in the broadest and most expeditious manner within the framework that the serious reality demands, in order to alleviate the situation of the Private Tourism Sector.

Costa Rica: Hotel Occupancy Does Not Meet Expectations

January 2013

The hotel industry ended the year with an occupancy rate of 65.5% in December, below expectations of 70%.

According to a survey conducted by the Costa Rican Chamber of Hotels, the low occupancy rate was recorded both at the beach hotels as well as mountain resorts.

"As usual, the most sought after hotels are on the beach. Occupation in this sector was 84%, although in 2011 it reached 97%.

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