Key Takeaways
The provided data represents the performance metrics of Mexico’s short-term rental industry from January 2021 to November 2023.
- The Average Daily Rate (ADR) ranged from $113 USD to $152 USD, with the highest value in December 2022 and 2021.
- The Revenue per Available Room (RevPAR) oscillated between $30 USD and $61 USD, also peaking in December of both years.
- Occupancy rates revealed an ongoing improvement, suggesting growing tourism or business travel. They reached a high of 40% thrice in December 2021, 2022, and February 2023.
- The average bookings varied slightly, between 1.3 and 2.4, with no clear progressive trend.
- On the other hand, the count of active listings showed a consistent increase over time, starting at 191213 in January 2021 and reaching a high of 295339 in September 2023, indicating a growth in the accommodations industry.
ADR Summary
The Average Daily Rate (ADR) in Mexico, represented in USD, has shown a somewhat cyclic trend with fluctuations over the observed period from January 2021 to November 2023.
Looking at the start of each year:
In January 2021, the ADR was $134 USD. It decreased in February 2021 to $121 USD, then somewhat stabilized around the range of $120-130 USD until August. There was a dip to $117-119 USD in September and October, and then it started to rise, reaching a peak of $150 USD in December 2021.
In January 2022, the ADR was again at $134 USD, similar to January 2021. However, this year, the rate stayed more stable, with minimal fluctuations, mostly ranging between 120-135 USD throughout the year. Only in December 2022 did it again rise to $152 USD, similar to the previous year-end peak.
Interestingly, the same pattern repeated in 2023. The ADR started at $139 USD, followed by lesser fluctuations (ranging from $119 to $141 USD) until it reached $141 USD in November 2023.
Across these years, we could infer a possible seasonal trend where the ADR tends to decrease in the earlier parts of the year, stabilize around the mid-year, and end with a peak in December. This pattern indicates a possible seasonal influence on the ADR values in Mexico. However, specific regional variations could exist which may affect this trend. This summary provides an overall picture at the country level, as the region/state was unspecified.
RevPAR Summary
The RevPAR (Revenue Per Available Room) for Mexico showed a general trend of growth from January 2021 to November 2023, based on the provided data set.
The data begins with a RevPAR value of $38 USD in January 2021. There is a slight decline till February 2021 ($30 USD), and the RevPAR then begins to pick up, reaching $40 USD in April 2021. There seems to be a seasonal trend where the values drop toward the third quarter of the year, with September recording lower RevPARs each year ($31 USD in 2021, $34 USD in 2022, and $32 USD in 2023).
Despite this, the RevPAR has generally increased over the years, ending at $53 USD in November 2023. The peak for each year appears to be in the month of December, with the RevPAR value reaching $61 USD in both 2021 and 2022.
This indicates that there is a trend where the RevPAR tends to increase toward the end of the year, drops at the beginning of the year, and then begins to rise again. This cycle seems to repeat annually.
Overall, from 2021 to 2023, there’s a positive trend in the RevPAR for Mexico, indicating an improvement in revenue generation per available room.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
The occupancy for Mexico has demonstrated a fluctuating trend from January 2021 to November 2023. The start of 2021 saw a relatively low occupancy rate of 28% in January, dropping to 25% in February and then coming again at 28% in March. The highest occupancy rate within 2021 was observed in December, reaching 40%.
Moving into the year 2022, the occupancy rate continued to improve, ranging mostly between 30% to 40%. The higher rates were typically observed in the early months of the year (January to April) and towards the year-end (November and December), both touching 40%.
Throughout 2023, the pattern persisted with the occupancy rate fluctuating between 27% to 40%. The start of the year again saw relatively high occupancy. July and November also witnessed occupancy rates of over 35%.
A trend can be identified where occupancy peaks around the start of the year and at the end, indicating a potentially seasonal pattern in the occupancy rates in Mexico.
Read here: How to Calculate Occupancy Rate.
Avg. Bookings Summary
The average bookings in Mexico showed an overall fluctuating trend from January 2021 to November 2023.
In 2021, the average bookings started at 1.3 in January, it then slightly rose to 1.4 in February. The highest average bookings were in March at 2.1, which then lessened to 1.7 in April. The numbers maintained a small rise to 1.8 in May and further to 1.9 in June. July saw a spike, hitting 2 average bookings, then dropped to 1.6 in August. It saw a mild increase in September and October, both recording 2 average bookings, which then dropped slightly to 1.8 in December.
2022 followed a similar trend, starting at 1.9 average bookings in January with a movement to 2 in February, a high in March at 2.3, decreasing to 2 in April, and down to 1.9 in May. June saw a further slight decrease to 1.8, whereas July increased back to 2.1. It then descended to 2 in August, fell lightly to 1.8 in September, bounced back to 2 in October, and ended at 1.9 in November and 1.8 in December.
2023 displayed a resurgence to 2.1 in January, dropping to 1.8 in February and climbing to the highest average bookings of 2.2 in March. It fell slightly to 1.8 in April and further down to 1.7 in May. The average bookings increased to 1.8 in June, stayed steady at 2 for July, then slightly declined to 1.8 in August. The numbers remained steady at 1.7 in September, rose to 2 in October, and ended up at the highest of 2.4 in November.
Overall, there seems to be a modest upward fluctuation in bookings during the start of the year and mid-year (around March/July) for these years. However, the increase is usually followed by a subsequent decrease, suggesting that these are peak booking periods.
Count of Active Listings Summary
The trend of the count of active listings in Mexico from January 2021 to November 2023 shows a steady and general increase. In January 2021, the count of active listings was 191,213, which increased to 213,801 in February of the same year. Although there were few fluctuations in 2021, with the count dropping to 212,858 in March and hitting a peak of 226,290 in September, the overall trend was upward.
In 2022, the count of active listings continued to rise steadily, hitting 235,219 in April, and reaching 242,783 in July, the highest for the year. There were minor fluctuations again, but the count continued to exhibit an upward trajectory, concluding the year at 264,168 in December.
In 2023, the growth of active listing continued, starting at 264,632 in January and reaching 295,339 in September, the highest in the given duration. However, there was a drop towards the end of the year, with the count dipping to 288,177 in October and further to 278,106 in November.
Thus, the general trend of the count of active listings in Mexico throughout this period showed an overall increasing trend with minor occasional dips.
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About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
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