Preliminary results for hotels in Mexico for the week ending March 28 – Hotel-Online
STR | April 02, 2020
To note: To inform the industry during the COVID-19 pandemic, STR will temporarily release a weekly communication for Mexico based on preliminary data. These preliminary data represent a percentage of the total STR sample for the region. After monthly processing is complete, the data points will likely appear differently.
The Mexican hotel industry has shown its strongest response to the COVID-19 pandemic to date with a significant year-over-year drop in all three KPIs during the week of 22-28 March 2020, according to preliminary data from STR.
Compared to the week of March 24-30, 2019, Mexican hotels reported the following:
- Occupancy: -81.3% to 12.3%
- Average daily rate (ADR): -39.5 to MXN 1,644.74
- Revenue per available room (RevPAR): -88.7% to MXN201.65
Among the Mexican markets with sufficient data, two of the largest saw their absolute occupancy rates drop to single digits. Mexico the occupancy rate fell from -88.7% to 8.2%, but the declines in ADR were not as staggering (-8.9% to MXN 2,292.69). In the same way, Guadalajara saw an 83.9% drop in occupancy to 8.7%, but a 7.7% drop in ADR to MXN 1,492.99.
The second largest city in Mexico—Monterrey– maintained the highest absolute occupancy rate in the country at 15.1%, down 79.4% from the same week last year. ADR in Monterrey fell 20.1% to MXN 1,234.58 and RevPAR fell 83.6% to MXN 186.71.
Mexico’s largest beach destinations have been slower to see extreme declines in occupancy, but this is no longer the case.
Absolute occupation in Los Cabos fell from 93.4% to a shocking 4.3%.
The Mexican Caribbean The market has yet to see the absolute occupancy rate drop to single digits, but it is close (-83.5% to 12.1%).