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STR: Mexico hotel performance for Q3 2018

October 30, 2018 Hotel Trends No Comments Email Email

Mexico’s hotel industry reported mixed performance results during Q3 2018, according to data from STR. http://www.tourismthailand.org/landing/landing_en.html

Compared with Q3 2017:

  • Occupancy: -1.7% to 62.2%
  • Average daily rate (ADR): +1.2% to MXN2,007.47
  • Revenue per available room (RevPAR): -0.6% to MXN1,248.61

STR analysts note that the absolute ADR level was the largest for any Q3 in STR’s Mexico database. Meanwhile, the dip in occupancy came as a result of supply growth (+2.0%) and softened demand (+0.3%) that was likely influenced by U.S.-issued travel advisories and security concerns in the country.

Among STR’s defined markets for the country, Mexico City experienced the highest rise in occupancy (+4.7% to 68.0%) and the only double-digit jump in RevPAR (+10.1% to MXN1,572.89).

Mexico Northwest posted the largest lift in ADR (+9.0% to MXN2,012.76), but the steepest decline in occupancy (-6.6% to 54.2%). Based on number of hotels, the largest cities included in this market are Cabo San Lucas, San Jose Del Cabo and Tijuana.

Mexico Northeast saw the only other increase in occupancy (+3.8% to 66.6%) and the second-largest increase in RevPAR (+8.4% to MXN823.76). Based on number of hotels, the largest cities included in this market are Monterrey, Saltillo and Tampico.

Mexico Central North reported the largest drop in RevPAR (-3.1% to MXN928.28), due to the second-largest decrease in occupancy (-3.3% to 61.1%). This market includes Guadalajara and Puerto Vallarta.

The Yucatan Peninsula registered the only other decrease in RevPAR (-2.0% to MXN2,145.45).

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