Hyatt contrasts the rise of the Dominican Republic with the fall of Cancun

In the presentation of results for the second quarter of the year, Hyatt has stated that the arrival of the US market has increased 16% in the Dominican Republic, while in Cancun it has been decreasing year after year.

“U.S. visits to Cancun and the Riviera Maya are declining. In reality, they are negative year after year. That has been picked up in three other ways. We have seen a 16% increase in visits to the Dominican Republic and an 11% increase to Jamaica, explained Hyatt CEO Mark Hoplamazian.

Hoplamazian has also indicated that they also expect an improvement in the Cancun market, thanks to the decrease in airfares, which allows hotels to offer better prices. He highlighted the profit margins that the Apple Leisure Group business leaves them is still “stratospheric” and they expect that by the end of the year they will obtain average profits of 18%.

Likewise, he warned that profits could be affected by business integration expenses such as the Mr. & Mrs. Smith travel platform for US$72 million in the second quarter, which will add to its World of Hyatt loyalty platform. , more than 1,500 boutique and luxury properties in 20 countries.

The hotel company has decided to keep the expectations of its operation stable since it considers that factors such as the exchange rate, the weakness of the Mexican peso affect the profits of the resorts in the Aztec country. “That’s an area that hits us relative to expectations that puts us in line with what we’ve said before,” Chief Financial Officer Joan Bottarini said.

as reported REPORTUR.usJavier Coll, Group President, Global Business Development & Innovation of Inclusive Collection –part of World of Hyatt–, highlighted in an interview with REPORTING that in the Mexican Caribbean “there are still destinations that are not on the radar of travelers”, while considering that the great threats to tourism in Quintana Roo lie in the competition from other regional destinations and also from long-distance destinations ( Javier Coll (Hyatt): “There are still destinations in the Mexican Caribbean that are not on the radar of travelers”)