The third quarter of 2019 was not a great one for Mexico’s hotel industry, which reported negative performance results across several metrics, according to the latest data from STR.
Compared with Q3 2018, occupancy fell 3 percent to 60.3 percent, average daily rate was down 3.4 percent to MXN1,928.43 and revenue per available room dropped 6.3 percent 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 (down 0.1 percent) growth, STR analysts explained in a statement
Among STR’s defined markets for the country, Mexico Central South experienced the only rise in occupancy (up 3.5 percent to 54.4 percent) and the second largest jump in RevPAR (up 4.5 percent to MXN607.95).
Mexico Northwest posted the largest lift in ADR (up 5 percent to MXN2,262.61), which resulted in the highest increase in RevPAR (up 4.7 percent to MXN1,262.11).
The Yucatan Peninsula registered the only double-digit declines in ADR (down 12.2 percent to MXN2,703.18) and RevPAR (down 15.4 percent to MXN1,770.03).
Mexico Central North saw the largest drop in occupancy (down 5.8 percent to 57.8 percent).