Preliminary Mexico Hotel Results For Week Ending 21 March
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for Mexico based on preliminary data. This preliminary data represents a percentage of STR's total sample for the region. Once monthly processing is complete, data points will likely appear different.
In comparison with the week of 17-23 March 2019, Mexico hotels reported the following:
- Occupancy: -54.2% to 30.2%
- Average daily rate (ADR): -2.7 to MXN2,655.20
- Revenue per available room (RevPAR): -55.4% to MXN801.79
Among data-sufficient markets within Mexico, Mexico City continued to see the steepest decline in RevPAR (-74.2% to MXN454.50), due primarily to the largest drop in occupancy (-70.5% to 20.3%).
The city of Puebla saw absolute occupancy fall below 20% (-62.8% to 17.6%) and also experienced a double-digit decline in ADR (-17.7% to MXN1,101.88).
Mexico's biggest tourist destinations are also feeling the effects of the COVID-19 pandemic but are still well above the national average in absolute occupancy.
The Mexican Caribbean and Puerto Vallarta are both maintaining an absolute occupancy above 40%. Nevertheless, the Mexican Caribbean saw a steep decline in RevPAR (-48.2% to MXN1,668.65), due to a substantial drop in occupancy (-44.6% to 42.6%). Puerto Vallarta was able to grow ADR slightly (+1.7% to MXN4,182.63) but experienced a decline in occupancy (-44.2% to 44.4%).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.