CBRE Report Highlights Hotel Development Trends in Mexico
According to a report by consulting firm CBRE, titled “Hotel Investors’ Intentions 2025,” Mexico saw the opening of 2,280 new hotel rooms between January and May of this year. Of these, 1,715 (75%) are located in Cancun, 355 (16%) in the Riviera Maya, and 140 (6%) in Riviera Nayarit.
This concentration means that Cancun and the Riviera Maya account for 91% of all newly opened hotel rooms in Mexico during the first five months of 2023.
Future Hotel Developments in Mexico
CBRE also anticipates that over 3,900 new rooms will come online during the second half of 2025. Currently, Cancun, Riviera Maya, and Los Cabos have more than 5,000 rooms under construction, which could join the market between 2025 and 2027.
Quintana Roo’s Hotel Room Projections
In Quintana Roo, an estimated 25,000 new rooms are projected for the continental part of Isla Mujeres. With 11,000 already inaugurated, there are still 14,000 rooms to be developed in this area. The northern region of Quintana Roo surpasses CBRE’s projections.
Given the growth rate over the past three years, Quintana Roo’s Secretary of Tourism, Bernardo Cueto Riestra, has stated that the entity could match Las Vegas in terms of hotel room count within the next five years.
“How Are We Doing?” Report by Sedetur
The “How Are We Doing?” report by Sedetur, as of June 2023, indicates that Quintana Roo has a total of 135,961 rooms across 1,478 hotels. This represents a 9.2% increase since June 2022, as the state had 124,463 rooms three years ago. Since then, 11,468 new rooms have been built, primarily in the northern part of the state.
If this growth trend continues, Quintana Roo could exceed 150,000 rooms in the next five years.
Key Questions and Answers
- What is the current hotel room construction situation in Mexico? Between January and May 2023, 2,280 new hotel rooms were opened in Mexico, with 75% of them located in Cancun, Riviera Maya, and Riviera Nayarit.
- What future hotel developments are anticipated in Mexico? Over 3,900 new rooms will enter operation in Mexico during the second half of 2025, with Cancun, Riviera Maya, and Los Cabos currently having more than 5,000 rooms under construction.
- What are the hotel room projections for Quintana Roo? Quintana Roo aims to have 25,000 new rooms in Isla Mujeres’ continental area, with 11,000 already inaugurated and 14,000 more to be developed. The northern region surpasses CBRE’s projections.
- How does Quintana Roo’s growth compare to other destinations? Quintana Roo’s Secretary of Tourism, Bernardo Cueto Riestra, expects the entity to match Las Vegas in hotel room count within five years. As of June 2023, the state has 135,961 rooms across 1,478 hotels, a 9.2% increase since June 2022.
