It s very discounted rates for these hotels that were occupied through mining workers mostly, she said.
Other corporate-driven markets like Bogotá, Colombia; Santiago, Chile; San José, Costa Rica; Buenos Aires, Argentina; Quito, Ecuador; Montevideo, Uruguay; and Panama City, Panama, all saw continued poor performance, with occupancy consistently below 30%, until some weekend demand began to pick up in just the past few months. In 2021, the daily data began picking up some weekend demand spikes as we see more international groups opening up and a few regional events happening, driving some domestic leisure demand, Boo said.
Indeed both leisure and corporate markets have suffered greatly during the pandemic, although leisure demand saw a disproportionate uptick in demand in the final portion of 2020.