STR: New supply weakens Rio hotel occupancy levels during Carnival 2017
Despite an increase in demand, hotels in Rio de Janeiro reported lower occupancy levels during this year's Carnival of Brazil, according to data from STR.
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Mexican Tourism Industry Experiencing Its Best Performance Ever | tourism-review.com
Mexico has been able to latch onto the global tourism explosion, and just in time. In this period of great uncertainty, due to the potential impact of the Trump era, the Mexican tourism sector – which already represents 8.5% of the country's GDP – is going through the best period in its entire history, and has become – after the manufacturing sector and remittances – the principal driving force behind the economy. It is, however, starting to show signs of stagnation. The arrival rate of foreign visitors grew by 9% in 2016, reaching 35 million people. The increase in foreign currency entering the country was 10%; and the tourism industry's account balance (dollar inflow versus dollar outflow) improved by 22% thanks to the fact that there were more foreign visitors entering the country than Mexican citizens traveling abroad.
Carnival Tourism Boosts Brazilian Businesses | tourism-review.com
The Brazilian Ministry of Tourism believes that the positive numbers of carnival tourism sector emphasize the importance of the holiday for the economy of all regions.
The Carnival revelry worked as a dynamo for the economy, generated jobs and attracted visitors in all regions of Brazil.
In Salvador, for instance, traditionally one of the key destinations for carnival tourism, the hotel occupancy rate reached 95% throughout the holiday season, hence generating 200 thousand temporary jobs. Bahia’s Secretariat of Tourism (Setur) estimates that 600 thousand tourists have visited the Bahian capital city, an increase of 9% in comparison with the previous year of 2016. Of these, 10% have come from abroad. 2 million visitors were registered throughout the state, a number responsible for pumping R$ 1,5 billion into the Bahian economy.
Mexico On Trump: Number Of Tourists Shall Not Fall | tourism-review.com
While the diplomatic relations between Mexico and the U.S. have gone unstable in recent months, the head of Mexican board points out the importance of the number of tourists crossing every year the border to holiday in the U.S. According to him, the industry has no reason to be worried now.
It is in no one’s interest to have a tourism war with the United States because every year 18 million Mexicans travel there and bring an economic benefit of 20 billion dollars, according to Tourism Secretary Enrique de la Madrid Cordero.
STR: Mexico hotel performance for year-end 2016, Q4 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%).Q4 2016During 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.A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source. Please refrain from citing "STR, Inc." "Smith Travel Research" or "STR Global" in sourcing as those names no longer fit within the updated STR brand.Additional Performance DataAre you a member of the media looking for performance data for a hotel market not included in this release? STR's sample comprises more than 55,000 hotels and nearly 7.5 million hotel rooms around the globe. Please refer to the contacts listed below for additional data requests.
Mexican Tourism To Slow Down Thanks To Trump | tourism-review.com
Following the US presidential election, there will be a slowdown in the rate of international tourist arrivals in Mexico, which will grow by only 7 per cent per year, according to estimates by Anáhuac University and the National Business Tourism Council focusing on the outlook of Mexican tourism.
Just before the elections on November 8 last year, Francisco Madrid, a tourism specialist, asked industry bosses whether Mexican tourism would be adversely affected if Trump won the election, and 54 per cent answered yes.
Honduran Tourism Expected To Increase 15% | tourism-review.com
Honduran tourism sector, better known as the "chimneyfree industry," is expected to jump from 4 to 15% growth this year.
The increase is projected to generate more than 800 million dollars in foreign currency for the country, according to estimates by officials of the Honduran Tourism Institute (IHT). The Honduran economy will get a billion-dollar contribution from the travel and tourism sector this year.
Tourist Spending In Mexico Is Critically Low | tourism-review.com
Average tourist spending by foreign visitors to Mexico is only half of what it is in Dominican Republic, and at least 300% below that of the United States, India and Australia, according to a study by Anahuac University and the National Tourism Business Council (CNET).
STR: Mexico hotel performance for Q3 2016
The Mexican hotel industry recorded positive results in the three key performance metrics for the third quarter of 2016, according to data from STR.Compared with Q3 2015, the Mexican hotel industry's occupancy increased 2.1% to 63.5%. Average daily rate was up 14.0% to MXN2,067.44. Revenue per available room grew 16.3% to MXN1,312.17.With double-digit increases in ADR, all five key markets in the country posted double-digit growth in RevPAR, led by Central Mexico (+16.5% to MXN785.20) and Northwest Mexico (+16.0% to MXN1,141.79).The Yucatan Peninsula recorded the quarter's highest absolute values across the three key performance metrics: occupancy (68.9%), ADR (MXN3,170.60) and RevPAR (MXN2,183.72).A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source. Please refrain from citing "STR, Inc." "Smith Travel Research" or "STR Global" in sourcing as those names no longer fit within the updated STR brand.
STR: Rio hotels see larger Olympics boost than London and Beijing
Rio de Janeiro's hotel industry saw a substantially larger impact as host of the 2016 Summer Olympics than London in 2012 and Beijing in 2008, according to data from STR.During the month of August, Rio de Janeiro hotels posted a 199.2% surge in average daily rate (ADR) to BRL1,250.26. That rate spike, coupled with a 26.6% increase in occupancy to 76.0%, led to a 278.6% increase in revenue per available room (RevPAR) to BRL949.84.Beijing experienced a 184.2% RevPAR increase in 2008, which was mainly due to a 250.1% boost in ADR as occupancy actually declined 18.8%. In London, RevPAR increased 44.4% due solely to an increase in ADR, as the market's occupancy was nearly flat during the 2012 Olympics.Prior to the 2016 games, Rio de Janeiro hotels struggled to maintain occupancy levels, affected by considerable supply growth, fear over the Zika virus and ongoing political issues. The market's 47.0% absolute occupancy level during the second quarter of 2016 was the lowest Q2 occupancy level for the market since 2002.The year-over-year performance increases for Rio de Janeiro during the Olympics also came off of a low comparison base in 2015."The real challenge for Rio lies ahead now that there are 23% more rooms in the market than a year ago," said Patricia Boo, STR's area director for Central and South America "This is a much different and less stable market than London and Beijing. While the Olympics performance lift for Rio was higher, the post- Olympics challenges will also be greater. The year after the 2012 Olympics, London experienced a 6% increase in demand, likely in part due to the attention the city received during the Olympics. Rio will need that and more to counteract the spike in supply."
JLL: What's next for hotel investment in Brazil?
A new report from JLL indicates that Brazil is still a long-term investment option, attracting a significant amount of foreign investors in spite of deteriorating economic conditions and weak hotel performance. The negative impact on performance is the result of deteriorating national economic conditions, the report claims, with the GDP shrinking by 4 percent. The growth in hotel supply hasn't helped, leading to low occupancy rates in formerly strong markets.
Fibra Inn Announces the Payment and Acquisition of the Courtyard by Marriott Chihuahua Hotel
Deutsche Bank México, S.A., Banking Institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13, ADR OTC: DFBRY) ("Fibra Inn" or "the Company"), the Mexican real estate investment trust specializing in the hotel industry serving the business traveler with global brands, today announced the payment and acquisition of the Courtyard by Marriott Chihuahua hotel, which adds 152 rooms to the portfolio.
STR: Outlining Rio’s pre-Olympic hotel supply growth
Rio de Janeiro, Brazil, has gained 38 hotels and more than 9,500 hotel rooms since being named host of the 2016 Summer Olympics, according to STR.Preliminary figures for July 2016 showed 28,314 rooms in 171 hotels in Rio de Janeiro. When Rio was awarded the games in October 2009, the market comprised 18,760 rooms in 133 properties.In addition to preparations for the Summer Olympics, Rio's hotel supply has grown substantially as a result of the 2014 FIFA World Cup. From June 2013 to June 2014, the year leading up to the World Cup, Rio's hotel room supply increased 5.9% to 21,383 rooms. Since that point, Rio's supply growth has ramped up 32.4%.In the first half of 2016, Rio hotels reported a 9.7% decline in occupancy compared with the first half of 2015. In addition, the market's 47.0% absolute occupancy level during the second quarter of 2016 was the lowest Q2 occupancy level in the market since 2002.Although fear over the Zika virus and ongoing political issues in Brazil have likely affected the market, STR analysts believe that substantial supply growth has significantly altered the city's hotel landscape. Brazilian officials have estimated that 350,000 to 500,000 tourists will visit Rio for the Olympics. STR analysts expect Rio hotels to see a significant boost in performance during the next several weeks.STR will report on Rio's hotel performance during the Olympics as data becomes available.
STR: Mexico hotel performance for Q2 2016
The Mexican hotel industry reported mostly positive results in the three key performance metrics for the second quarter of 2016, according to data fromSTR.Compared with Q2 2015, the Mexican hotel industry's occupancy was mostly flat (-0.5% to 63.3%). However, average daily rate was up 15.8% to MXN2,079.87, and revenue per available room grew 15.2% to MXN1,317.20."Performance was pretty similar to the first quarter with a weakened Peso as the main reason behind Mexico's hotel success," said Fatima Thompson, STR's associate director of business development, hotels. "Based on proximity alone, Mexico gains a lot of travelers from the U.S. But a lot of people realize that now is a good time to take advantage of the value, and hoteliers have capitalized with increased rates. It will be interesting to monitor the impact of Brexit on the Peso and ultimately the hotel industry in Mexico."Among the key markets in the country, Northwest Mexico posted the largest spike in RevPAR (+52.3% to MXN1,432.36), driven primarily by the country's largest increase in ADR (+49.2% to MXN2,355.25). Occupancy in the market was up 2.1% to 60.8%.Mexico City experienced the largest rise in occupancy (+8.3% to 70.7%). That coupled with a 19.9% increase in ADR to MXN2,486.43 pushed RevPAR up 29.8% to MXN1,758.07.The only decreases in any of the three key performance metrics were reported in the Yucatan Peninsula (occupancy -6.4% to 69.1%) and Northeast Mexico-Monterrey (occupancy -0.2% to 65.6%)."The country as a whole is such a great deal, it appears as if people are exploring areas outside of the always popular destinations."A note to editors: As of 1 March 2016, all references to STR data and analysis should cite "STR" as the source. Please refrain from citing "STR, Inc." "Smith Travel Research" or "STR Global" in sourcing as those names no longer fit within the updated STR brand.Additional Performance DataAre you a member of the media looking for performance data for a hotel market not included in this release? STR's sample comprises more than 54,000 hotels and 7.3 million hotel rooms around the globe. Please refer to the contacts listed below for additional data requests.
STR: Central/South America hotel performance for Q2 2016, June 2016
Hotels in the Central/South America region recorded mixed Q2 2016 results when reported in U.S. dollar constant currency, according to data from STR. Compared with the three key performance metrics from Q2 2015, the Central/South America region reported a 5.1% decrease in occupancy to 54.1%. Average daily rate was up 5.3% to US$89.75. Revenue per available room was flat at US$48.58. Performance of featured countries for Q2 2016 (local currency, year-over-year comparisons):Argentina experienced a 5.5% decrease in occupancy to 51.9%, but a 53.2% spike in ADR to ARS1,535.76 drove RevPAR up 44.7% to ARS797.21.
Infographic: Brazil Hotel Industry Snapshot
eRevMax, the leading travel technology provider to the hospitality industry has released an infographic shedding key insights of the hotel industry in Brazil. The Infographic titled Brazil Hotel Industry Snapshot highlights that nearly half- million foreign tourists are expected to visit Brazil during Rio 2016 Olympics and the country is set to welcome a total of 7 million international tourists by the end of this year.
Horwath Special Market Report: Chile Market Overview
Almost 4,500,000 international visitors arrived at Chile in 2015, which indicates an important growth of 22% compared to 2014, and a record number of overseas visitors during the last years. Regarding average occupancy rate, during 2015 an occupancy rate of 41% was registered at the national level, according to INE, which represented 1.38 points of growth (pp) in comparison with 2014. In this article, we will examine the most important items related to tourism and hotel sector, including the pipeline of hotel projects.
STR: Caribbean/Mexico hotel pipeline for April 2016
STR's April 2016 Pipeline Report shows 28,715 rooms in 178 projects Under Contract in the Caribbean/Mexico region. The total represents a 3.8% decrease in rooms Under Contract compared with April 2015 but a 9.3% year-over-year increase in rooms In Construction.Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The region reported 12,809 rooms in 79 projects In Construction for the month.Among the region's key markets, Central Mexico (3,846 rooms in 30 hotels) reported the largest number of rooms In Construction, followed by Yucatán Peninsula, Mexico (1,795 rooms in eight hotels) and Northwest Mexico (1,441 rooms in 12 hotels).
STR: Mexico hotel performance for Q1 2016
The Mexican hotel industry reported mixed results in the three key performance metrics for the first quarter of 2016, according to data from STR.
Luxury Market Surges In Los Cabos | Travelmarketreport.com
Hoteliers are betting on Los Cabos’ reputation as a top destination for luxury travelers, as they continue to bring upscale brands to the area. The good news: it seems to be paying off. The hot spot saw a 14.7% tourism increase in 2015 compared to 2014, welcoming more than 1.5 million tourists a year. Delta Vacations and Aeromexico Vacations bookings to the destination have seen “healthy double-digit increases,” said Delta Vacations senior vice president of marketing and product development Tina Iglio. Iglio predicts Los Cabos will “represent a huge opportunity for travel agents in 2016.”