Vacation Rent Status June 2022
According to AirDNA figures for the Riviera Maya, we can see an overall increase in inventory in this area during May and June 2022. Unlike Playa del Carmen and Tulum, Cancun maintains average occupancy levels of 60% and slight increases in ADR vs. last year, while Playa del Carmen and Tulum maintain average occupancies of 40% dropping -37% and -39% respectively.
Playa del Carmen has increased its inventory levels and has maintained a balance in its rates, however average occupancy has fallen to 12 days average occupancy levels as has Tulum.
On the other hand, Tulum is starting to experience inventory increases of over +50% vs. last year and declines in its ADR. We anticipate that, as inventory levels continue to rise in Tulum, the average ADR in this city may reach lower levels.
Other reasons for the fall in demand are due to:
1. Inflation in the US and Mexico - holidaymakers have seen their purchasing power deteriorate and the first thing to go is a holiday.
2. Europe opening up - holidaymakers who did not travel to Europe because of the pandemic are returning to Europe to take advantage of the depreciation of the Euro.
3. Possible recession - holidaymakers are anticipating and preparing for rumours of a global economic recession.
Published on 22.07.22