Hoteliers in Mexico are faced with hard numbers that show they’re losing market share to popular booking platforms like Airbnb. And it’s a good sign for the vacation rental market business in Mexico.
56% of millennials in Mexico prefer Airbnb to hotels, according to new market research.
In addition, more Airbnb users are satisfied with their experience—81% versus 74% for hotels. These customers also tend to spread the word about their positive experience, 63% as opposed to 47% for hotels.
Airbnb has changed the way that people book rooms away from home, with homeowners able to compete with hotels for guests.
Click to view Tulum Vacation Rental Airbnb’s for Sale.
The results of a recent study conducted by AMI explored the attitudes of travelers in Mexico towards both hotels and Airbnb.
“Airbnb has grown rapidly in Mexico in recent years, with listings expanding by 53% in 2018,” said Ricardo Alvarez, the research director responsible for studying consumer services at AMI.
“Since it’s clearly having a disruptive effect on the hotel industry and we study disruption in Latin America, we wanted to examine how Mexican travelers feel about both Airbnb and hotels to understand the disruption drivers.” he says.
NEW Data Reveals Airbnb Tulum Vacation Rental Market Grew by 66.2% (2019-21)
AMI’s survey results:
- 52% of Mexican travelers choose Airbnb for the price.
- 81% of respondents would choose hotels over Airbnb when traveling to a dangerous city.
- Airbnb guests are more likely than hotel guests to have an “exceptional” experience.
- The average Airbnb lodging cost in Mexico is 54% higher than the average hotel cost.
- Nearly twice as many business travelers prefer hotels to Airbnb when on the road for work.
- Airbnb guests age 18-34 are more than twice as likely to recommend it than hotels.
- Overall, Airbnb guests are more likely to recommend it over hotels (63% vs. 47% for hotels).
AMI, a Florida-based market intelligence and strategy consultancy said the findings could help hotels retain or expand their market share.
“While Airbnb’s advantages in certain areas suggest why it’s been successful in disrupting the hotel industry, hotels also have advantages they can use to retain or expand their market share. They just need to understand them, and research like this could help,” said Alvarez.
Take advantage of the growing vacation rental Airbnb Market in Mexico
The time to invest in a vacation rental in Mexico is now. The region of Riviera Maya is seeing the biggest growth in places such as Tulum and Playa del Carmen.
Not only does the vacation rental market in this area continue to grow, but so does the popularity of these vacation rentals throughout Latin America.
Thus making this the perfect time to get in on this highly profitable industry.
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