November 2023 was a profitable month for hotels in Jakarta, Indonesia, and São Paulo, Brazil, according to hotel industry data from CoStar.

Jakarta's hotels recorded their highest levels in occupancy and revenue per available room (RevPAR) since November 2011 and November 2013 respectively, beating a previous record hit by the city’s hotels earlier in 2023.

In year-over-year % change, hotel occupancy was 79.8%, an increase of 10.9%, while average daily rate (ADR) was IDR1,030,269.24, a 10.4% rise. RevPAR was IDR822,163.52, a significant boost of 22.5%.

In November 2023 Jakarta hosted several events that helped performance, including a concert by popular band Coldplay and IndoBuildTech Expo, an event for building materials, architecture and construction.

Daily data shows the highest occupancy levels on 15 November (92.7%), the night of the Coldplay concert, closely followed by 16 November (89.1%). Jakarta’s occupancy levels remained above 70% for all but three days during the month.

São Paulo hotels in November 2023

São Paulo’s hotel industry saw its highest monthly ADR and RevPAR on record.

Occupancy in the city was 71.9%, an increase of 5.0%, while ADR was BRL749.67, a 20.7% increase, and RevPAR reached BRL539.37, an impressive 26.8% increase.

Occupancy levels were above 70% for only the second time since November 2019.

The highest occupancy levels were seen on 8 November (90.4%), the night of a soccer match between São Paulo and Bragantino, and on 29 November (90.0%) – the night of a match between São Paulo and Bahia.

Other key events during the month included UFC Fight Night, the Brazilian Grand Prix (which pushed daily ADR levels above BRL1,000), and pop star Taylor Swift's Eras Tour.

São Paulo’s daily occupancy levels were above 50% on all but one day – 1 November (46.0%).