The hotel sector in Cali, Colombia, achieved unprecedented milestones in average daily rate (ADR) and revenue per available room (RevPAR) during the 16th UN Biodiversity Conference (COP16), as reported by CoStar, a leading platform for real estate data, analytics, and online marketplaces.
COP16, which spanned 12 days, brought together representatives from over 190 nations to tackle critical issues in global biodiversity preservation. With over 21,000 pre-registered participants, the event marked the largest turnout in the conference’s history, drawing attendees from nearly every corner of the world.
The event significantly boosted Cali’s hotel performance, setting new daily and monthly records. On Monday, October 28, hotel metrics saw extraordinary surges: occupancy skyrocketed by 210.6% to reach 95.8%, ADR surged 307% to COP 1,143,946.80, and RevPAR soared by an astounding 1,164.3% to COP 1,095,344.81. These figures represented the highest ADR and RevPAR ever recorded in the market, with occupancy reaching its peak since November 16, 2023, when it hit 96.5%.
Monthly performance also reached record-breaking levels. The average daily rate (ADR) for the month rose to COP 579,844.02, while revenue per available room (RevPAR) reached COP 353,530.31, showing impressive year-over-year increases of 100.2% and 113.6%, respectively.
Tags: Cali, Colombia, 16th UN Biodiversity Conference COP16, Cali’s hotel performance,
