STR: Mexico Q3 2019 hotel performance
Mexico's hotel industry reported negative performance results during Q3 2019, according to data from STR.
Compared with Q3 2018:
- Occupancy: -3.0% to 60.3%
- Average daily rate (ADR): -3.4% to MXN1,928.43
- Revenue per available room (RevPAR): -6.3% to MXN1,162.06
The absolute occupancy level was the lowest for any Q3 in the country since 2013 due to an influx of new supply and lack of demand (-0.1%) growth.
Among STR's defined markets for the country, Mexico Central South experienced the only rise in occupancy (+3.5% to 54.4%) and the second-largest jump in RevPAR (+4.5% to MXN607.95).
Mexico Northwest posted the largest lift in ADR (+5.0% to MXN2,262.61), which resulted in the highest increase in RevPAR (+4.7% to MXN1,262.11).
The Yucatan Peninsula registered the only double-digit declines in ADR (-12.2% to MXN2,703.18) and RevPAR (-15.4% to MXN1,770.03).
Mexico Central North saw the largest drop in occupancy (-5.8% to 57.8%).
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.