The Mexican Hotel Industry Reported Positive Year-Over-Year Performance Metrics for Full Year 2016
The Mexican hotel industry reported positive year-over-year results in the three key performance metrics during 2016, according to data from STR.
Compared with 2015, occupancy was nearly flat (+0.1% to 63.6%). However, average daily rate (ADR) jumped 17.0% to MXN2,327.16, resulting in a 17.1% spike in revenue per available room (RevPAR) to MXN1,479.60.
“It is not surprising that the Mexican hotel industry closed 2016 with strong numbers,” said Fatima Thompson, STR’s associate director of business development, hotels. “The tourism industry is considered one of the main engines of the economy in Mexico, and in 2016, Mexico saw more international visitors due to a favorable exchange rate for foreign travelers.”
With double-digit increases in ADR, all five key markets in the country posted double-digit growth in RevPAR, led by Northwest Mexico (+50.6% to MXN1,548.44) and Mexico City (+22.3% to MXN1,760.73).
Mexico City also reported the largest occupancy increase (+4.1% to 69.4%) for the year.
Two key markets saw negative occupancy performance: Yucatan Peninsula (-3.0% to 69.4%) and Northeast Mexico-Monterrey (-0.5% to 62.4%).
During the fourth quarter of 2016, the Mexican hotel industry reported positive results in the three key performance metrics. Occupancy rose 1.3% to 63.0%, and ADR was up 21.5% to MXN2,569.47. As a result, RevPAR increased 23.0% to MXN1,619.56.
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