Updated : Feb 9, 2025
Key Takeaways
The data from PriceLabs’ Short-term Rental Worldwide Index represents key metrics for the Colombian short-term rental industry from 2021 to 2023. It’s interesting to note that the highest ADR and RevPAR coincided with the highest occupancy rates and average bookings, suggesting a correlation between these factors.
- Overall, the average daily rate (ADR) was lowest at $66 USD in February 2021 and peaked at $91 USD in January 2023.
- Similarly, the Revenue Per Available Room (RevPAR) ranged from $10 USD in May 2021 to $32 USD in January 2023.
- The occupancy rate reached its highest at 35% in January 2023, while the lowest rate was 14% in May 2021.
- The average bookings gradually increased, with the lowest at 0.7 in April 2021 and the highest at 1.8 in November 2023.
- The count of active listings showed consistent growth throughout the period, beginning at 73,090 in January 2021 and reaching its peak at 123,640 in September 2023.
ADR Summary
The Average Daily Rate (ADR) for Colombia, in USD, from January 2021 to November 2023 fluctuates over time. Beginning in January 2021, a decreasing trend was observed from $84 USD to $66 USD in February 2021. This slight downhill trend persisted till May 2021, when ADR was at $71 USD. We then observe a gradual increase, peaking in December 2021 at $88 USD, falling again in February 2022 to $69 USD, and then followed by several undulations until the end of data in November 2023.
We also observe possible seasonal patterns. The ADR is typically inclined to increase around the turn of the year. For instance, in December 2021, December 2022, and January 2023, the ADR was comparatively higher at $88 USD, $89 USD, and $91 USD, respectively. Conversely, the rate usually was slightly lower around February and March. This suggests that the end and beginning of the year may be a busy tourism period in Colombia. In summary, the ADR in Colombia showed a fluctuating pattern over the years 2021 to 2023, with possible seasonal peaks at the turn of the year. Please note that these observations are descriptive and do not reflect future predictions.
RevPAR Summary
The historical trend of RevPAR in USD for the entire country of Colombia shows dynamic seasonality.
In the beginning, RevPAR stood at $20 USD in January 2021. Over the next several months, it fluctuated, hitting a low of $10 USD in May 2021. Afterward, it saw an upward trajectory, peaking at $26 USD in December 2021.
Entering 2022, RevPAR was quite volatile but still maintained reasonable levels around an average of around $20 USD, with some peaks, such as $24 USD in January and $29 USD in December.
Moving into 2023, the RevPARs continued to stabilize with an appreciable increase to $32 USD in January, the highest of the observed period. Down the line, the value fluctuated fairly between $18 USD and $22 USD, showcasing occasional dips and rises.
Overall, it seems like the end and beginning of the year (December & January) are good seasons for RevPAR in Colombia, indicating a possible seasonal trend. However, the numbers still tend to oscillate throughout the year.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
The occupancy trend for the entire country of Colombia shows a gradual month-on-month increase with certain periodic fluctuations. In January 2021, the occupancy rate stood at 24%, sequentially decreasing over the next few months to 14% in May 2021. The figures then started rising, with some oscillation, hitting 23% in October and November, with a peak of 29% in December 2021 and January 2022.
It slightly fluctuated between 21% and 28% from February 2022 to September 2022, reaching another peak at 35% in January 2023. Post-January 2023, the occupancy rates slowly regressed to 23% in September 2023, with some slight periodic increases and decreases.
We can see a possible seasonal trend where the occupancy rates increase towards the year’s end, suggesting higher accommodation demand during the holidays. Overall, the general trend over the three years shows a consistent increase in the average occupancy rate.
Read here: How to Calculate Occupancy Rate.
Avg. Bookings Summary
Looking at the average bookings from January 2021 until November 2023 in Colombia, there is a noticeable increasing trend. In January 2021, the average bookings were at a rate of 0.9, which gradually increased to 1.8 by November 2023. It is observed that there is a slight dip in April 2021, where the average bookings dropped to 0.7 but then steadily climbed up thereafter. Also, between the months of August and October in both 2021 and 2022, there was a consistent increase in average bookings, indicating a possible seasonal trend during these months. The same trend is observed in the year 2023. However, no pronounced patterns are observed in the data to suggest a periodic trend strongly. Overall, the average bookings have shown a growth over this period.
Count of Active Listings Summary
The count of active listings in Colombia has generally increased over the past three years, from 2021 to 2023. In January 2021, there were 73,090 active listings. This number steadily increased throughout the year, peaking in September at 91,737 listings. However, there was a slight decrease towards the end of the year in December, with 87,695 listings.
In 2022, the count of active listings continued to grow, starting from 93,909 in January and reaching a peak in July at 98,671. Again, this year also, there was a slight dip towards the end, recording 87,896 listings in October, but it again picked up, closing the year with 99,153 listings.
In 2023, there was a significant increase in the count of active listings. The count of active listings in January was 100,336 and saw a steady rise, reaching its highest in September 2023 with 123,640 listings.
Thus, the general trend noted for the count of active listings in Colombia from 2021 to 2023 is an overall increase, with occasional slight dips towards the end of each year.
Get actionable market insights from PriceLabs’ Market Dashboards.
About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
- Compare: Compare year-over-year metrics like active listings, occupancy rates, RevPAR, and ADR.
- Trend: Visualize how metrics have changed over the past years.
- Pacing: Compare upcoming year metrics to the previous year for occupancy, ADR, and RevPAR.
