Day of the Dead and Formula 1 celebrations drive recovery of the hotel sector in CDMX

Mexico City is already showing an important recovery in the percentage of hotel occupancy due to the celebrations for the Day of the Dead and also because Formula 1 is approaching, reported the local Hotel Association.

Through a report, the capital hoteliers They indicated that from the week of October 25 to October 31, Mexico City reached hotel occupancy levels of 49.3% and for the weekend of Friday 29 to Sunday 31 of the same month, it was 55.61 percent.

“Even some hotels in areas such as the Historic Center, Reforma and Zona Rosa, reached 95 percent occupancy,” reads the document issued this Tuesday.

In this vein, the businessmen specified that in the month of October the accumulated hotel occupancy of the Mexico City closed at 41.40%, this figure contrasts with what was registered in the same month but in 2020, where the average was 16.27 percent.

The hotel business leadership reported that this dynamism represents a continuation of the gradual recovery that the sector registered in the summer, hotel occupancy during the months of July and August 2021 was 37%, with a spill of 1,600 million pesos.

According to data from the Secretariat of Tourism of Mexico CityIn the first half of the year, the capital received 2.5 million tourists, of which 660,000 were international and 1.9 million were national. An average occupancy from January to June of 24% was registered, with a total expenditure of 22.5 million pesos.

Projection

The Association of Hotels of Mexico City announced that for the weekend of the Formula 1 (from November 5 to 7), it is expected to exceed 124,000 rooms contracted, generating an economic benefit of 240 million pesos.

It also foresees that 235,000 tourists will stay in a hotel in the city, of which 1 in 5 will be foreigners, so an occupancy of 81% is expected and in some tourist areas the occupancy will reach 100 percent.

If this upward trend continues, the Mexico City Hotel Association, reported that for the end of November and December an occupancy of 43 and 38% respectively would be expected, managing to close the year with an accumulated 32% occupancy.

“The hotels in Mexico City will continue to maintain hygiene and safety protocols, safeguarding the integrity of their visitors,” stated the businessmen.

By specifying that the hotels in the city have the Safe Travels seal, the business leadership stated that they will intensify promotional campaigns with the authorities to recover the number of visitors in less time.

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Reference-www.eleconomista.com.mx

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