The portfolio’s occupancy as of December 2023 was calculated based on 152 hotels and 17,503 rooms in operation. On December 6, the Company inaugurated the City Express by Marriott Cancún Airport hotel with 137 rooms, located in the city of Cancún, Quintana Roo.
Occupancy reached 50.0%, a decrease of 3.2 percentage points vs. the same month of 2022. This was primarily due to a reduction in rooms for corporate agreements, as in 2022 there were some extraordinary events that drove occupancy upwards. However, the Company focused on improving rates, which resulted in a 5.2% increase in the average daily rate vs. the same month of 2022, reaching $1,249 pesos. In December, RevPAR was $625 pesos, a decrease of 1.2% vs. 2022.
The following graphs show the trend in room rates and occupancy levels compared to the previous year. The average rate followed the trend observed in the prior year, while occupancy rate declined in the Company´s hotels, particularly in the center and southern regions of the country. We observed lower occupancy in metropolitan areas and manufacturing centers, which aligns with the industry’s cyclicality. Additionally, there was a decrease in occupancy in the Central West, Metropolitan Areas, and Northeast regions. In contrast, the average rate primarily increased in the Central West, South and Southeast, maintaining a positive trend.
During the month, hotels in the Southern region showed resilience given the industry’s cyclicality, benefiting from the positive effect of leisure tourism. This resulted in a 12% increase in the RevPAR compared to the same month of the previous year.
Finally, consolidated revenue for December reached $285.6 million pesos, decreasing by 1.1% vs. the same month of the previous year.
Miranda Newswire – Full Press Release: Download PDF
Investor Relations Contact Details
Héctor Vázquez
Corporate Finance, Treasury and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com