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The Hotel Industry in Guatemala

The Hotel Industry in Guatemala

Maxime Piekarski No Comment

The hotel industry is one of the fastest growing sectors in the world with predicted revenue of $550 billion  in 2016 (hospitalitynet, 2015). In 2011, the revenue was $457 billion, showing an increase of almost $100 billion in just five years (hospitalitynet, 2015). This increase is due to many factors affecting the sector, including key business, technology and hotel marketing trends (hospitalitynet, 2015). For example, Europe and Asia Pacific are continuing to be key regions with ever growing hotel occupancy, with the highest so far at 68% (hospitalitynet, 2015).

On the other hand, the most expensive region for hotel room rates goes to the Middle East and Africa with a $165.97 daily room rate average (hospitalitynet, 2015). Amongst other markets, Central and South America have an increase in room construction of 4.4% from 2015 to 2016, Rio de Janeiro in Brazil reporting the largest increase yet (Hospitality trends, 2016).

Just recently in 2015, the hotel industry is looking to increase their presence in the Guatemalan market with the expansion of four hotel chains by the end of 2016 (Central America Data, 2014). These four are: La Quinta Inn & Suites, Hyatt, Four Seasons and Marriott hotels. In Guatemala, you are going to see new buildings, the arrival of new brands, remodeling, and expansion of facilities, are part of the changes in the hotel sector in the Guatemalan capital.

In 2018, in partnership with Cayalá Group, the Marriot International chain has announced a 160 room hotel in Guatemala city and another one in Cayalá which will hold 115 rooms (Central America Data, 2014). The hotel industry in Guatemala is expanding rapidly and according to Laurent De Kousemaker, development director for the Caribbean and Latin America of Marriot International, “…Guatemala City is one of the most important and dynamic destinations in the region, therefore we are very excited about the opening of these hotels and about having partners who are so knowledgeable about the local market.” On the other side, eleconomista.net reports that, “…CEO of Cayalá Group said they feel very proud … because it energizes the city of Guatemala generating employment and investment and putting Guatemala on the map with world class companies such as the prestigious Marriot hotel chain.”

On a personal note, Guatemala and Guatemala City are both locations that have a great potential of expansion within the hotel industry. Just within 3 years, the numbers of tourists have increased from 1,225,000 to 1,455,000 in Guatemala (The World Bank, 2016). This is an indication that there are business opportunities in that sector and that key hotel chains are moving in quickly to grasp them. With the businesses come the trends as shown in the diagram below. These trends will lead the way and will push your business to be very competitive:

 

Hotel Guatemala city

 

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