Published on : Wednesday, March 24, 2021
Feeling that now he can travel anywhere in the world without risking his life, American Brian Sheppard, recently-vaccinated, hopped on a plane to explore the top beach resort of Mexico a few days ago to take part in the wedding of one of his best buddies.
Cancun’s all-inclusive hotels like other key Mexican tourist attractions, along extensive stretches of white sandy coastline on the Caribbean are profiting from coronavirus vaccinations as Mexico prepares for a major bounce back from one of the worst affected years in history for its tourism.
As the U.S. Spring Break season has so far been muted to some extent in Mexico, between 48.7% and 61.5% occupancy were seen for the summer bookings at the main tourist destinations, a dramatic rise from 2020 when properties were majorly found empty, according to government estimates.
Mainly the U.S travelers are seen feeling more confident. Thanks to the rising application of coronavirus vaccines. The beaten-up shares of Mexican hotel companies have by now started to get well as the expectation of sunnier times takes hold.
Shares of Grupo Hotelero Santa Fe (HOTEL.MX), which has its properties in Los Cabos and Puerto Vallarta, have bounced back by over a third since last November when they encountered a record blow.
FibraHotel (FIHO12.MX), in the meantime, with a similar profile of hotels has fared even better, with its shares rising almost 70% since May, when they also drooped to their lowest level seen ever.
For Mexico’s poorly placed economy, the expected summertime boom is a welcome postcard as tourist spending comprised 9% of gross domestic product in 2019.
Sheppard after finishing the dinner at a beachfront restaurant confessed that he almost turned down his friend’s invite to the wedding.
Tags: vaccine
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