2021 has seen a return to growth in luxury hotels sales in the Mexican market. However, sales have not yet returned to the levels seen before the outbreak of COVID-19.
In addition to official restrictions on travel in many countries around the world, many potential travellers to Mexico have also stayed at home voluntarily due to the global health crisis. Moreover, many countries implemented stricter travel restrictions towards the end of 2020/2021 in response to rising infection rates and new variants of the SARS-CoV-2 virus that causes COVID-19.
However, despite strong growth in 2021, sales remain well below the levels seen in 2019, prior to the outbreak of COVID-19. While hotels have been allowed to reopen in Mexico, many tourists have continued to stay away out of health concerns.
Luxury hotels is set to see value sales return to pre-pandemic levels in the middle of the forecast period. The return of international tourists is likely to be a fairly drawn out process, given the lasting global economic impact of the COVID-19 crisis, with many people preferring to holiday in their home countries.
Luxury hotels will need to continuously communicate the sanitation measures they have put in place as a result of the COVID-19 crisis, both in the premises themselves and in the pre-booking marketing activities such as media advertising and online campaigns. Examples of such measures include the hotel brand, Live Aqua’s Travel with Confidence programme.
Hotels in touristic destinations such as beaches and specific tourist attractions are expected to continue to recover faster than those in business locations such as the larger cities. Remote working and video conferencing have generally been a global success for businesses during the pandemic, and many companies are likely to prefer these options over business travel for some time to come, not only for safety reasons, but also to save money after the devastating financial impacts of the COVID-19 crisis.
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Understand the latest market trends and future growth opportunities for the Luxury Hotels (5-star plus) industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Luxury: includes luxury and upper upscale hotels. Would generally include 5-star hotels and above, but may include some “4.5-Star” outlets, provided that the brands positioning warrants it. The luxury classification is primarily determined by the brand’s positioning and marketing, which will be at the high-end. Brand examples include Marriott, Hilton, Sofitel and InterContinental.
See All of Our DefinitionsThis report originates from Passport, our Luxury Hotels (5-star plus) research and analysis database.
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