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Hotel Prices In Cancun And The Mexican Caribbean Soar Amid Record Demand

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Cancun and the Mexican Caribbean are reporting record-shattering tourism figures as international travel continues to make a steady comeback. With more than 400,000 visitors in the area each day, demand is quickly increasing, and so too are hotel prices. Hotels in the popular destination are forecasting the upward trend to continue throughout the year.

Tourists that chose to spend their summer holidays in Cancun this year will have to pay a hefty price for a night in one of the city’s many resorts. With nightly rates averaging between $150 and $400 dollars for a standard room, high demand is pushing prices up. This year is the first time since 2019 that both hotel occupancy rates, as well as prices, equal or exceed those of 2019, the last year before the devastating shock of the COVID-19 pandemic.

A natural consequence of the increased travel demand is a corresponding rise in average nightly fares, which range from $200 on the lower end to above $1000 per night, depending on the room category. The Mexican Caribbean currently has around 123,000 hotel rooms in more than 40,000 establishments, including resorts and private home rentals through online services such as Airbnb.

Prices are showing an upward trend, significantly above prices recorded in previous years, and with no end in sight to the area’s popularity, tourists can expect the dynamic to continue. To meet increasing demand, new hotel openings are being announced constantly, with the area home to most of Mexico’s new hotel rooms. 

In addition to rising prices, hotels across Cancun and the Mexican Caribbean are reporting record-high occupancy rates as the summer vacation period kicks off. With only 15% of all hotel rooms available, people are clearly feeling travel fever set in as the Mexican Caribbean continues to attract tourists from across the globe, especially in North America. With its unique combination of stunning beaches, ancient Maya culture, and unparalleled hotels and resorts, Quintana Roo is the most popular Caribbean destination this year. 

Some of the destinations in the Mexican Caribbean seeing record-high hotel occupancy this summer include Cancun, by far the most popular destination, as well as nearby Playa del Carmen and Isla Mujeres. Despite more hotel openings, the region is struggling to meet demand as travelers flock to its beautiful beaches and all-inclusive resorts.

Analysts also say that the concept of low and high seasons is slowly becoming a thing of the past as the Mexican Caribbean welcomes tourists year-round. As a result of this development, hotel prices are expected to remain consistent throughout the year, regardless of winter or summer. That’s why tourists looking for cheaper deals in say November or February next may end up paying prices similar to those of the summer season. 

According to Toni Chaves, president of the Riviera Maya Hotel Association, “we are observing a recovery in hotel occupancy rates as well as prices this year, and we expect further increases to both for next year due to high demand for the destination as well as operative costs”, the president said in a statement to Reportur.mx.

Cancun International Airport is already feeling the effects of a full-blown recovery in international travel, with more than 600 daily arrivals and departures recorded on Saturday alone. Combined with the ongoing renovation of Cancun’s Colosio boulevard, tourists are being advised to add at least an additional hour to hotel transfers. 

Meanwhile, demand to travel to the Mexican Caribbean is expected to remain elevated throughout 2022. With many tourists already looking for deals for the winter season, several large airlines have announced new flights to the area, including Air Canada and tour operator TUI

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