After the COVID-19 pandemic, luxury hotel brands are heavily investing in the development of high-end properties in destinations such as Cancun, Los Cabos, and Riviera Nayarit, marking an important milestone in the industry. According to Juan Pedro Saenz-Diez, Vice President of Hospitality for CBRE, Mexico has positioned itself as a complete and attractive destination globally, with Quintana Roo standing out as one of the most comprehensive destinations in the world.
In this regard, luxury brands have accelerated their developments in Mexico, taking advantage of international tourism with higher purchasing power. The strategy has particularly benefited sun-and-beach destinations, which offer various price options to meet the demands of different segments of travelers.
Globally, luxury brands have found in hotel residences a formula that facilitates property development and maximizes return on investment. Part of the funding for these luxury hotels comes from the sale of branded properties, which has significantly contributed to the sector's growth.
Despite the slowdown in the arrival of international tourists to Mexico, the hotel offering continues to consolidate with smaller-scale projects. During the first eight months of 2024, more than 4,000 rooms were inaugurated, and the incorporation of more than 10,000 hotel keys is expected in Mexico in the next 36 months. It is important to highlight that, while luxury tourism is essential, the country also needs to promote other tourism segments, including mass tourism, to maintain a diversified and sustainable landscape in the hotel industry.
