Whitebridge LAC Hotels Monitor, Issue 15
Issue 15 of the LAC Hotels Monitor covers Q-period performance across the Caribbean and Mexico, with Total Caribbean RevPAR up 5.1% but Mexico destinations posting GOPPAR declines of up to 13.1%.
Photo by Whitebridge Hospitality
Introduction
Just when we thought things were settling down, a muscular America flexed its pecs - seizure of a head of state, expansion of US military around LAC, deadly maritime incidents, pressure on governments to host radar and military installation and the closure of Caribbean airspace. More specifically travel restrictions were imposed on Antigua & Barbuda and Dominica because of perceived threats arising from their Citizenship by Investment programs. So how did all this affect the region’s hotels?
Performance data shows a mixed picture, with around half the destinations recording increases in RevPAR and GOPPAR, and Total Caribbean exhibiting a similar positive trend (+5.1%). Destinations in Mexico faired poorly (GOPPAR down -13.1% and -9.8% in Los Cabos and Mexico City respectively). Highest annual occupancy was in Rio de Janeiro (73.3%) and highest ADR in Los Cabos (USD1,070).
Economic growth around the Caribbean and the construction of new airports are underpinning future tourism development and raising construction costs in many regions.
There were a number of deals in the region but few continue to publish much in terms of details. Many refurbs were underway and new properties opened in an uncertain marketplace.
Many thanks to our friends at Muudo and VBC for their back page feature contributions, how have modular construction solutions progressed?
Philip Camble
Director, Whitebridge Hospitality
Editor, LAC Hotels Monitor
About Whitebridge Hospitality
Whitebridge Hospitality is a specialist advisor to investors, developers and operators in the hospitality industry around the globe. We provide investment, operational and planning advice, and guidance in respect of the entire hospitality spectrum, including: hotels, mixed-use developments, conference and exhibition centres, spas, leisure facilities, casinos, visitor attractions and sporting venues. Our uniquely qualified team can provide services throughout an asset's life cycle, from site selection and acquisition, through master planning and feasibility studies, to operator selection, operational and asset strategy advice, to sale and agency services.
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Media Contact
Philip Camble
Director [email protected]