Mexico's hotel industry saw occupancy dip 1.3% to 63.1% in 2018, and a 0.6% ADR decrease to 2,300.04 Mexican pesos ($120.87) brought RevPAR down 1.9% to 1,450.53 pesos ($76.23).
HENDERSONVILLE, Tennessee—Mexico’s hotel industry reported mixed performance results during 2018, according to data from STR.
Compared with 2017:
• Occupancy: -1.3% to 63.1%
• Average daily rate (ADR): -0.6% to MXN2,300.04
• Revenue per available room (RevPAR): -1.9% to MXN1,450.53
Although in line with previous year’s averages, STR analysts note that the absolute occupancy was the lowest for any year in the country since 2014. The dip in occupancy came as a result of healthy supply growth (+2.4%) and softened demand (+1.1%) that was likely influenced by political and economic uncertainty, along with safety concerns and U.S.-issued travel advisories.
Among STR’s defined markets for the country, Mexico Northeast registered the largest increases in each of the three key performance metrics: occupancy (+5.0% to 65.8%), ADR (+4.5% to MXN1,272.75) and RevPAR (+9.7% to MXN837.86). Based on number of hotels, the largest cities included in this market are Monterrey, Saltillo and Tampico.
Mexico City experienced the second-highest rise in occupancy (+3.0% to 69.2%), which resulted in the only other jump in RevPAR (+4.0% to MXN1,706.93).
Mexico Central North reported the largest drop in RevPAR (-4.8% to MXN1,037.37), due primarily to the second-steepest decline in occupancy (-3.6% to 61.0%). This market includes Guadalajara and Puerto Vallarta.
Mexico Central South saw the largest decrease in occupancy (-3.9% to 52.8%) and the second-largest drop in RevPAR (-3.1% to MXN580.45). The highest hotel counts in this market belong to Oaxaca and Acapulco.
The Yucatan Peninsula posted the only other decline in ADR (-0.6% to MXN3,691.76).
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