The global real estate services company, JLL, presented a report on the performance of the hotel and hospitality industry in Mexico. The document presents an update on the figures and expectations of national and foreign investment; as well as the economic outlook around the travel and tourism sector.

Regarding the performance in the hospitality sector, the report shows that there was a strong upturn in visits to Mexico, especially in the country's most important tourist markets, such as Los Cabos, Cancun and the Riviera Maya.

The company explained that, although they continue to observe sharp drops in the occupancy level, due to the maximum occupancy limitations established by the government, the hotels managed to reach average rates that exceeded 2019 levels, despite the fact that 2020 was the worst year in the history of the national hotel industry.

On the other hand, JLL affirmed that Mexico has the most developed hotel sector in Latin America, with more than 400,000 rooms scattered throughout the country. In this regard, he highlighted the following indicators:

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The country's room offerings are equally divided between independent and hotel chain properties, key destinations in the country tend to reflect a higher level of institutional (branded) hotel offerings, with approximately 60% of hotel rooms in the country. brand, located in destinations such as Cancun / Riviera Maya and Mexico City.

More than a third of Mexico's offer is in tourist destinations. The Cancun / Riviera Maya destination represents the largest concentration of the hotel market in Mexico, with approximately one fifth of the country's hotel room supply, followed by Mexico City and the Puerto Vallarta / Riviera Nayarit region.

The portfolio of new hotels in the country has about 14,000 rooms currently under construction and 10,000 additional rooms in the planning stages that are expected to be delivered by the end of 2023. This level of activity demonstrates the strong confidence of investors in the prospect of the long-term Mexican hotel sector.

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New vacation destinations like the Riviera Nayarit on the west coast have recently been considered by many developers, while traditional tourist markets like Los Cabos and Cancun continue to have new projects.

Although some projects in the planning stage have been halted or delayed due to the pause in financing and the temporary closure of government offices that authorize permits and licenses, projects under construction that were temporarily halted during the closure due to the pandemic were restarted as soon as they were allowed to do so.

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