Positive Statements Suggest Further Investment In Popular Cancun Area
The executive director of major hotel chain Riu has stated that Cancun is the most profitable destination on the planet. The chain is intending to increase its presence in the Quintana Roo region in the coming months and years.
Joan Train Riu, the executive director of the Spanish hotel chain, sang the praises of Cancun and the popularity that has gifted the company so much success. Despite being a Spanish company, he stated that Riu is Mexican at heart.
Currently, the franchise has twelve hotels in Quintana Roo, with a further eight spread across Mexico. By the end of the year, Riu will have added two more establishments in Quintana Roo, bringing its total to fourteen.
He said, “Cancún is the best vacation destination in the world from the point of view of profitability. The strategy is to be in the best destinations and locations, and for us Cancun is the best destination in the world and the most resilient destination, the pandemic has shown it. The numbers speak for themselves. In Cancun we are going to open two hotels this year”.
The statements, although tied to a singular company, are reflective of wider trends in the travel market. Cancun and Quintana Roo’s stratospheric growth in the past years is making it incredibly attractive for new investors. Many of the best-known accommodation franchises in the world are doubling down efforts to open new properties in the region.
Hilton has invested billions in Quintana Roo, opening multiple high-end resorts in Cancun and Tulum in the past year with several more planned up and down the coast. Marriott is taking similar steps and opening its own all-inclusive resort designed to attract luxury-seeking visitors.
There was concern that Quintana Roo’s popularity would be limited to the pandemic. Mexico’s relaxed stance throughout the covid crisis made Cancun one of the few beach destinations on the planet that offered a relatively normal vacation experience. Tulum also took advantage and became something of a haven for digital nomads and other long-term travelers.
But as the only option, there were fears that as the rest of the world opened up, the region would lose its competitive edge. When factoring in the problems the area has had with violence, it may be a surprise it’s held on.
But investment has continued to pour in, pitting Cancun and the rest of the state as long-term contenders on the global tourism stage, and not just flitting success stories from the pandemic. The Cancun International Airport is now one of the top ten busiest transport hubs in the world, an incredible feat considering its size relative to others on the list.
Tourists are continuing to flock to its shores and with the United States’ dropping its pre-departure testing requirement, an entirely new population of tourist could be heading to the Mexican Caribbean. Statistics suggest that as much as 40% of potential travelers have decided against a vacation because of the risks the testing presented. With that risk now mitigated, a huge chunk of the traveling population could be mobile in the coming months.
A longer-term problem to overcome is the violence that continues to plague the region. Although tourists are rarely in the crossfire, the increased levels are likely to impact visitor confidence in the long run. The arrival of the Maya Train will open up the state to many new travelers, but far from the safety of the all-inclusive resorts, some may be hesitant to take the leap.
The momentum isn’t likely to stop anytime soon, and as more hotel rooms and Airbnbs are added to the region, tourists can look forward a massive array of options for their next trip to the Mexican Caribbean. Increased competition is good in the long run for visitors as rates can be held a little lower in comparison to the soaring inflation being seen across the world.
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