Hotel Industry in Mexico Reports RevPAR Growth of 6.4 Percent for 2017
Hotels in Mexico reported occupancy rose 0.5% to 63.9% in 2017, while ADR increased 6% to 2,323.31 Mexican pesos ($124.77) and RevPAR jumped 6.4% to 1,484.81 Mexican pesos ($79.74).
Mexico’s hotel industry reported positive year-over-year results in the three key performance metrics during 2017, according to data from STR.
Compared with 2016:
- Occupancy: +0.5% to 63.9%
- Average daily rate (ADR): +6.0% to MXN2,323.31
- Revenue per available room (RevPAR): +6.4% to MXN1,484.81
“The hotel industry closed 2017 with strong numbers once again despite safety and security warnings issued for several areas in Mexico and the September Earthquake in Mexico City,” said Fatima Thompson, STR’s associate director of business development, hotels. “Performance growth was definitely supported by healthier U.S. demand due to a weakened peso.”
Among the country’s key markets as defined by STR, Central Mexico posted the only double-digit jump in RevPAR (+10.5% to MXN911.84), due primarily to the largest increase in ADR (+8.8% to MXN1,516.59)
The Yucatan Peninsula experienced the largest occupancy increase (+2.1 % to 70.8%) for the year.
Three key markets saw negative occupancy performance: Mexico City (-2.8% to 67.6%), Northwest Mexico (-0.6% to 59.6%) and Northeast Mexico-Monterrey (-0.4% to 62.6%).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.