Value Chain Report on the Hospitality Industry in Mexico.

Abstract

This report provides a comprehensive analysis of the value chain for the hospitality industry in Mexico, a vital sector contributing significantly to the national economy. The value chain encompasses several interconnected stages: Tourism Promotion and Intermediation, Transportation, Accommodation, Food and Beverage Services, Activities and Recreation, and essential Support Services. Key players include large domestic hotel groups like Grupo Posadas and Grupo Hotelero Santa Fe, international chains such as Marriott and IHG, real estate investment trusts like FibraHotel, luxury developers like Grupo Vidanta, and numerous independent establishments and service providers. The industry demonstrates robust growth, with international tourist arrivals reaching 45 million in 2024 and generating over $32 billion USD in revenue. The hotel market was valued at approximately $13.74 billion USD in 2024, while the food service market estimates vary but indicate a substantial size exceeding $70 billion USD. Commercial relationships are multifaceted, involving direct sales, franchise agreements, management contracts, commission-based models (particularly with OTAs), and complex B2B supply chains. Significant bottlenecks include dependency on intermediaries like OTAs, human resource challenges, supply chain complexities (with high import reliance), infrastructure needs, and intense competition. Understanding these dynamics is crucial for stakeholders seeking to navigate and capitalize on opportunities within Mexico's thriving hospitality sector.

Introduction

The hospitality industry in Mexico stands as a cornerstone of the nation's economy, deeply integrated with the expansive tourism sector. It represents a significant portion of the tourism Gross Domestic Product (GDP) and plays a crucial role in job creation and foreign exchange earnings. Characterized by its diversity, the industry caters to a wide range of visitors, from international tourists seeking luxury beach resorts and cultural experiences to domestic travelers and business clientele utilizing urban accommodations and services. Mexico's rich cultural heritage, diverse natural landscapes, and extensive coastline make it a globally competitive destination, consistently ranking among the most visited countries worldwide. Recent years have seen substantial growth, with international arrivals and spending reaching record highs in 2024, alongside significant investment in new hotel properties, particularly in the luxury segment. Key destinations like Cancún, Riviera Maya, Los Cabos, and major cities drive much of this activity, supported by a vast network of hotels, restaurants, transportation providers, and tour operators.

The purpose of this report is to conduct an in-depth analysis of the value chain specific to the hospitality industry in Mexico. The scope encompasses the identification and detailed description of each primary and support activity involved in delivering hospitality services, from attracting visitors to managing their departure. This analysis includes profiling key players across different segments, examining the intricate commercial relationships and business models that govern interactions between these players, and identifying the primary bottlenecks and challenges that impact the industry's efficiency and growth potential. By dissecting the value chain, this report aims to provide a granular understanding of the sector's structure, operational dynamics, economic contributions, and areas requiring strategic attention, serving as a valuable resource for industry stakeholders, investors, policymakers, and researchers.

Value Chain Definition

The value chain of the hospitality industry in Mexico comprises a sequence of activities through which value is created and delivered to the final consumer. It can be conceptualized as a series of interconnected steps, each involving distinct segments, players, and activities. These steps transform inputs (like marketing efforts, infrastructure, supplies, and labor) into the final hospitality experience enjoyed by tourists and local patrons.

Step 1: Tourism Promotion and Intermediation This foundational step focuses on creating demand and facilitating access to Mexico's hospitality offerings. It involves marketing the country and specific destinations, packaging tourism products, and enabling booking processes. * Segments: * Government Tourism Promotion: Federal (e.g., SECTUR) and state tourism bodies marketing Mexico internationally and domestically. * Tour Operators: Companies bundling transport, lodging, and activities into packages. * Travel Agencies (Online and Traditional): Intermediaries selling tourism products directly to consumers. OTAs (Online Travel Agencies) dominate the online space, while traditional agencies offer personalized services. * Destination Marketing Organizations (DMOs): Regional or city-level entities promoting specific locales. * Main Activities: Developing and executing large-scale marketing campaigns (digital, print, broadcast), participating in international tourism fairs and roadshows, creating thematic tourism routes (e.g., Mayan Route, Wine Routes), negotiating bulk rates for package components, managing online booking platforms, providing travel consultation and visa assistance, curating and distributing promotional materials, collaborating with local businesses for joint promotions.

Step 2: Transportation Essential for bringing visitors to destinations and enabling movement within the country, transportation acts as a critical enabler for the core hospitality services. * Segments: * Airlines: International and domestic carriers connecting Mexico to global markets and linking major cities and tourist hubs within the country. * Ground Transportation: Includes intercity buses, local taxis, app-based ride-sharing services (Uber, DiDi), car rental agencies, and private shuttle/limousine services. * Cruise Lines: International cruise companies featuring Mexican ports (e.g., Cozumel, Cabo San Lucas) as part of their itineraries. * Main Activities: Operating scheduled and charter flights, managing airport ground handling and passenger services, providing long-distance and local bus services, offering taxi and ride-sharing services, managing car rental fleets and booking systems, operating cruise ships, managing port arrivals/departures, offering shore excursions coordinated with local operators.

Step 3: Accommodation This core step involves providing lodging and related services to travelers and residents, representing a major component of the hospitality industry's revenue and infrastructure. * Segments: * Chain Hotels: Properties operating under recognized brands (e.g., Marriott, Posadas, IHG, Accor), categorized by service level (Economy, Mid-scale, Upscale/Mid-High Scale, Luxury) and format (e.g., full-service, limited-service, extended-stay/Service Apartments like FibraHotel's properties). * Independent Hotels: Hotels not affiliated with major chains, often offering unique local character or boutique experiences. * Resorts: Typically larger properties in leisure destinations (beach or mountain), offering extensive amenities like multiple pools, restaurants, spas, entertainment, and often operating on an all-inclusive basis (e.g., AMResorts, Grupo Vidanta). * Other Lodging: Includes short-term vacation rentals (managed via platforms like Airbnb or by property managers), traditional Bed & Breakfasts (B&Bs), budget-friendly hostels, and timeshare properties. * Main Activities: Managing room inventory and reservations (direct, OTA, GDS), check-in/check-out procedures, providing housekeeping and maintenance services, operating front desk and concierge services, managing on-site food and beverage outlets (restaurants, bars, room service), offering and maintaining amenities (pools, fitness centers, spas, business centers, meeting spaces), managing guest relations and feedback, implementing loyalty programs (especially chains), ensuring safety and security.

Step 4: Food and Beverage Services This extensive step encompasses all establishments dedicated to providing prepared food and drinks, catering to both tourists and the local population. * Segments: * Full-Service Restaurants (FSR): Establishments offering table service, ranging from casual dining to high-end fine dining experiences. * Quick Service Restaurants (QSR): Fast-food outlets characterized by limited menus, counter service, and speed (e.g., international and domestic franchises). * Cafes and Bars: Primarily serving beverages (coffee, tea, alcoholic drinks) and often offering light meals or snacks. * Cloud Kitchens (Dark Kitchens): Kitchen facilities designed exclusively for delivery orders, with no physical storefront or dine-in area, leveraging delivery platforms. * Catering Services: Providing food and beverage services for external events like weddings, corporate functions, and private parties. * Food Service within Other Establishments: Restaurants, bars, and cafes located within hotels, airports, shopping malls, cultural attractions, etc. * Main Activities: Menu planning and development, sourcing ingredients, food preparation and cooking according to recipes and quality standards, table service or counter service, beverage preparation and service, managing inventory and supply orders, maintaining hygiene and food safety standards, processing payments, implementing marketing and promotional activities, managing online ordering and delivery logistics (often via third-party platforms).

Step 5: Activities and Recreation This step focuses on providing experiences, entertainment, and leisure options that enhance the visitor's stay and cater to local recreational demand. * Segments: * Tour and Excursion Operators: Companies designing, marketing, and conducting guided tours to cultural sites, natural attractions, or themed experiences. * Attractions and Entertainment Venues: Includes theme parks (e.g., Xcaret), water parks, museums, archaeological sites (managed by INAH), zoos, aquariums, theaters, concert venues, cinemas, and sports stadiums. * Recreational Service Providers: Businesses offering specific activities like water sports (diving, snorkeling, fishing charters), adventure tourism (zip-lining, ATV tours), golf courses, spa and wellness centers, and cooking classes. * Meetings, Incentives, Conferences, and Exhibitions (MICE): Specialized organizers and venues (convention centers, large hotels) focused on hosting business events, trade shows, and large group gatherings. * Main Activities: Designing tour itineraries, providing transportation for tours, offering knowledgeable guides, managing ticket sales and admissions for attractions, operating rides and entertainment shows, maintaining recreational facilities (golf courses, dive boats, spa equipment), organizing event logistics (venue booking, AV setup, registration, catering coordination), providing specialized instruction or equipment rental.

Step 6: Support Services These are the underlying B2B services and infrastructure critical for the smooth functioning and development of the primary hospitality activities. * Segments: * Technology Providers: Companies offering Property Management Systems (PMS), Central Reservation Systems (CRS), Point of Sale (POS) systems, online booking engines, revenue management software, guest relationship management (GRM) tools, and network infrastructure. * Supply Chain and Logistics: Businesses involved in the procurement, warehousing, and distribution of food, beverages, linens, cleaning supplies, amenities, furniture, fixtures, and equipment (FF&E) to hospitality establishments. * Human Resources and Training: Recruitment agencies specializing in hospitality, educational institutions offering hospitality management programs, third-party training providers focusing on service skills, language proficiency, and management development. * Consulting and Marketing Services: Firms providing specialized advice on market entry, operations, strategy, feasibility studies, branding, digital marketing, public relations, and sales representation. * Construction and Real Estate: Companies involved in the design, development, construction, renovation, and maintenance of hotel properties, restaurants, and other hospitality facilities. Includes architects, engineers, construction firms, interior designers, and real estate developers/investors (like Fibras). * Main Activities: Developing, implementing, and supporting software and hardware solutions; managing procurement processes, inventory control, and logistics networks; recruiting, screening, and placing staff; designing and delivering training programs; conducting market research and providing strategic recommendations; executing marketing campaigns; designing and constructing physical infrastructure; managing real estate transactions and investments.

Players Analysis

The Mexican hospitality value chain is populated by a diverse array of players, ranging from large multinational corporations and major domestic groups to small independent businesses and individual service providers.

Profiles of Key Players:

• Grupo Posadas: As Mexico's largest hotel operator, Grupo Posadas holds a commanding position in the Accommodation step. They manage a portfolio of well-known brands such as Live Aqua (Luxury), Grand Fiesta Americana (Luxury/Upscale), Fiesta Americana (Upscale), Fiesta Inn (Mid-scale/Business), Gamma (Upscale/Mid-scale conversion), and One Hotels (Economy). Their operations span both urban centers and coastal resort destinations. Their business model is versatile, encompassing hotel ownership, leasing agreements, franchise operations, and third-party management contracts. They are actively involved in hotel development, reflecting a strategy focused on growth, adaptability, and maintaining profitability in a competitive landscape. Their status as the largest operator underscores their significant influence on the national hotel market.
• Grupo Hotelero Santa Fe: Another major domestic player in the Accommodation sector, Grupo Hotelero Santa Fe focuses on acquiring, developing, and operating hotels primarily in the 3- to 5-star categories. They manage properties under their own brands (e.g., Krystal Hotels & Resorts) and licensed international brands. They operate in both urban and beach locations and often collaborate with institutional investors and financial partners for development projects. Their activities include hotel management, development, and strategic acquisitions.
• FibraHotel: A prominent player in the Support Services (Real Estate Investment) and Accommodation steps, FibraHotel is Mexico's first real estate investment trust (REIT, or Fibra in Spanish) specialized in hotels. Their primary activity involves acquiring, owning, and developing hotel properties, which are then operated by established hotel management companies (including major international and domestic groups). They focus heavily on business-class hotels in key urban and industrial markets, generating revenue primarily from lodging income derived from their property portfolio. They represent a significant channel for investment into the Mexican hotel sector.
• Grupo Vidanta: Operating primarily in the luxury segment of the Accommodation step (Luxury Resorts) and heavily involved in Activities and Recreation (Theme Parks, Golf Courses, Entertainment), Grupo Vidanta is known for developing large-scale, integrated luxury tourism complexes. They are involved throughout the lifecycle, from design and construction to financing, operation, and marketing of their resorts, which often include extensive amenities, high-end residential components, and significant entertainment offerings like their partnership with Cirque du Soleil or developing theme parks. Their model focuses on creating exclusive, self-contained destination experiences.
• Marriott International: A global hospitality giant with a very strong presence in Mexico's Accommodation sector. Marriott operates a wide spectrum of brands across nearly all service levels, from luxury (e.g., Ritz-Carlton, St. Regis) to premium (e.g., Marriott, Westin, Sheraton) to select-service (e.g., Courtyard, Fairfield Inn) and extended stay (e.g., Residence Inn). Their acquisition of the domestic City Express chain significantly boosted their presence in the mid-scale and economy segments across the country. Marriott primarily operates through management contracts and franchise agreements, leveraging its global brand recognition, powerful loyalty program (Marriott Bonvoy), and extensive distribution system.
• IHG Hotels & Resorts: Another leading international hotel company active in Mexico's Accommodation segment. IHG operates brands like InterContinental (Luxury), Kimpton (Luxury Boutique), Crowne Plaza (Upscale), Holiday Inn (Mid-scale), and Holiday Inn Express (Upper Mid-scale). They have a long-standing relationship with Grupo Presidente, which operates several InterContinental and Holiday Inn properties in Mexico. IHG employs franchise and management contract models and benefits from its global scale and IHG One Rewards loyalty program.
• Accorhotels: A major European hotel group with a significant and growing footprint in Mexico's Accommodation market. Accor's portfolio includes brands spanning luxury (e.g., Fairmont, Sofitel) to economy (e.g., Ibis). They utilize management contracts and franchising to expand their presence in key Mexican cities and tourist destinations.
• AMResorts (part of Hyatt's Inclusive Collection): A key player focused specifically on the luxury all-inclusive segment within the Accommodation step, particularly strong in Mexican beach destinations like Cancún and Riviera Maya. They provide sales, marketing, and brand management services under various resort brands (e.g., Secrets, Dreams, Zoëtry). Their model relies on managing properties owned by third parties, focusing on delivering a high-quality, branded all-inclusive experience.
• Grupo Presidente: A 100% Mexican company with a significant role in both Accommodation (operating hotels, often under international luxury brands like IHG's Presidente InterContinental) and Food and Beverage (operating numerous well-regarded restaurants and bars, some independent and some within their hotels). They act as a key partner for international brands seeking local operational expertise and also develop their own concepts, emphasizing unique experiences and high service standards.

Estimates of Volumes and Sizes:

Quantifying the exact size of each value chain step requires integrating various data points. The following table summarizes available estimates, primarily for 2024/2025, based on the provided context:

Value Chain Step	Key Segments	Types of Players	Main Activities	Estimated Volumes/Sizes (Mexico, 2024/2025)
Tourism Promotion & Intermediation	Government Promotion, Tour Operators, Travel Agencies (Online & Traditional), DMOs	SECTUR, Mexico Top Tours, Nexus Tours, OTAs (Booking.com, Expedia), Traditional Agencies, State Tourism Boards	Marketing, package creation, bookings, information, destination promotion.	45 million international tourist arrivals (2024). >$32 billion USD international tourist spending (2024). Significant government budgets & OTA commissions.
Transportation	Airlines, Ground Transportation, Cruise Lines	Major Intl. Airlines, Domestic (Volaris, Aeromexico), Bus Companies (ADO), Taxis, Ride-sharing (Uber, DiDi), Car Rentals (Hertz, Avis), Cruise Lines (Carnival, Royal Caribbean)	Passenger transport, transfers, port services.	>2 million international air arrivals (Jan 2024); 1.7M (May 2024). 3.9 million cruise passengers (early 2024). Extensive domestic bus network.
Accommodation	Chain Hotels (Economy, Mid-scale, Luxury, Service Apartments), Independent Hotels, Resorts, Other Lodging	Grupo Posadas, Grupo Hotelero Santa Fe, FibraHotel, Grupo Vidanta, Marriott, IHG, Accor, AMResorts, Grupo Presidente, Independent Owners, OTAs, Airbnb	Lodging, F&B in hotels, amenities, reservations, guest services.	Market Size: ~$13.74B - $22.89B USD (2024, source dependent), projected to ~$24.24B USD (2025). >700,000 rooms (2015 est.), >4,000 new rooms added (Jan-Aug 2024). Occupancy: Beach ~68.3%, City ~57.5% (1H 2024). Significant investment ($ growth 50% in luxury 2024).
Food and Beverage Services	Full-Service Restaurants, QSR, Cafes/Bars, Cloud Kitchens, Catering, F&B within other establishments	Chains (Alsea, Intl. Franchises), Independent Restaurants, Cafes, Bars, Catering Companies, Hotel F&B divisions, CANIRAC (Industry Association)	Food & drink preparation and service, menu development, delivery.	Market Size: ~$72.5B - $90.43B USD (2024, source dependent), projected growth (CAGR ~5-10%). >680,000 formal restaurants. Expected Investment: 11.55B MXN (2024). Growth: 4.5% (2024), projected 5.5-6% (2025).
Activities and Recreation	Tour/Excursion Operators, Attractions/Entertainment, Recreational Services, MICE	Tour Operators (Local & Intl.), INAH (Sites), Private Park Operators (Xcaret), Event Organizers, Convention Centers	Organizing tours, managing attractions, providing leisure activities, hosting events.	Data often aggregated within overall tourism spending. Significant revenue from major parks and archaeological sites. Growing MICE sector.
Support Services	Technology Providers, Supply Chain/Logistics, HR/Training, Consulting/Marketing, Construction/Real Estate	Tech Companies (Sabre, Oracle), Distributors (Sysco, local), Consulting Firms (CBRE), Construction Co., Fibras (FibraHotel, Fibra Inn)	Software/hardware, procurement, staff development, expert advice, property development/investment.	Hotel chains import ~75% of consumables (~$12 billion USD value). Significant construction activity. Growing role of Fibras in ownership.

Commercial Relationships

The Mexican hospitality value chain operates through a dense network of commercial relationships, governing the flow of goods, services, and payments between diverse players. These relationships define the economic structure and operational dynamics of the industry.

• Promotion & Intermediation <-> Service Providers: Government tourism bodies (SECTUR, state boards) contract marketing, advertising, and PR firms on a fee-for-service or project basis to execute promotional campaigns. DMOs often rely on membership fees from local businesses (hotels, restaurants) and government grants. Tour Operators negotiate wholesale rates (net rates) with airlines (Transportation), hotels (Accommodation), and activity providers (Activities/Recreation) for bulk purchases of services (seats, rooms, tours). They then sell packages at a retail price. Travel Agencies (traditional and OTAs) act as retailers, earning commissions from suppliers (historically airlines, now primarily hotels, cruise lines, tour operators) for bookings made on their behalf. OTAs dominate online distribution, charging significant commission percentages (often 15-25%) to hotels for facilitating bookings through their platforms.
• Transportation <-> Intermediaries & Consumers: Airlines sell tickets directly to consumers (B2C) and through intermediaries like OTAs and traditional agencies (B2B), often using Global Distribution Systems (GDS). They also have bulk agreements with tour operators. Ground transport operators (bus, taxi, ride-share) primarily sell directly to consumers but also establish contracts with hotels for airport transfers or with tour operators for excursion transport. Car rental agencies work directly with consumers and through travel agencies/OTAs, and have corporate contracts. Cruise lines sell directly and via agencies, paying commissions, and contract with port authorities for docking fees and services, and local tour operators for shore excursions.
• Accommodation <-> Suppliers & Intermediaries: Hotels maintain extensive B2B relationships with Support Services suppliers: purchasing food & beverage from distributors, linens and cleaning supplies from specialized providers, technology solutions (PMS, POS, booking engines) from tech vendors, and maintenance/repair services. These are typically ongoing supply contracts with negotiated terms. Chain hotels have contractual relationships (management or franchise agreements) with brand owners, involving fees, royalties, marketing contributions, and adherence to operational standards. Hotels contract with OTAs, paying commissions for bookings generated. They also negotiate corporate rates for business travel and group rates for MICE organizers (Activities/Recreation). REITs like FibraHotel own properties and lease them to operators or enter into management agreements, creating a landlord-tenant or principal-agent relationship focused on property performance and rental income/profit share.
• Food & Beverage <-> Suppliers & Platforms: Restaurants, cafes, and bars establish regular purchasing relationships with food, beverage, and equipment suppliers (Support Services). They increasingly rely on third-party delivery platforms (Uber Eats, Rappi, DiDi Food), paying commissions per order (often 20-30%+) to access their customer base and delivery logistics. Catering services operate on project-based contracts with clients for specific events. Hotel-based F&B outlets operate as internal profit centers or under management agreements with the hotel.
• Activities & Recreation <-> Intermediaries & Suppliers: Tour operators purchase transportation, guide services, and entrance fees from respective providers. They often pay commissions to hotels or travel desks for referrals. Attractions sell tickets directly (B2C) and offer net rates or commissions to tour operators and agencies for bulk sales (B2B). Recreational providers sell directly and partner with hotels (e.g., on-site dive shops, spa management contracts) or tour operators, potentially using revenue-sharing or commission models. MICE organizers contract venues, caterers, AV providers (Support Services), and other event suppliers on behalf of their clients, typically charging a management fee.
• Support Services <-> Hospitality Operators: These relationships are predominantly B2B. Technology providers sell licenses, subscriptions (SaaS), or hardware. Distributors sell goods based on purchase orders and supply contracts. HR firms charge fees for recruitment or training services. Consultants and marketing agencies work on retainers or project fees. Construction firms work on fixed-price or cost-plus contracts for development and renovation. Real estate investors (like Fibras) engage in property acquisition, development, and leasing/management contracts with operators. The significant import volume (75% of hotel consumables) indicates extensive international supply chain relationships.

These commercial interactions create a complex flow where consumer payments are channeled through intermediaries and distributed among various service providers and suppliers, with each player aiming to capture value based on their role and contractual agreements.

Bottlenecks and Challenges

The Mexican hospitality value chain, while dynamic and growing, faces several significant bottlenecks and challenges that can impede performance and sustainable development across its various steps:

1. Intermediary Dependence & Commission Costs: An over-reliance on Online Travel Agencies (OTAs) in the Tourism Promotion & Intermediation and Accommodation steps is a major challenge. While OTAs provide essential market reach, the high commission rates they charge (often 15-25% or more) significantly erode hotel profitability. This dependency reduces the leverage of individual hotels, particularly independents, in pricing and direct customer relationship building. A similar challenge exists in the Food and Beverage sector with the growing dominance of food delivery platforms, whose commission fees squeeze restaurant margins.
2. Supply Chain Inefficiencies and Costs: The Support Services segment faces challenges related to logistics and costs. The high reliance on imported goods (estimated 75% of consumables for hotel chains, valued at ~$12 billion USD) exposes the industry to currency fluctuations, import tariffs, and complex international logistics, potentially increasing operational costs. Ensuring consistent quality, freshness (for F&B), and timely delivery of supplies to diverse and sometimes remote locations across Mexico remains a logistical hurdle that can impact service delivery in Accommodation and Food and Beverage.
3. Human Capital: Shortages and Skills Gaps: A persistent bottleneck exists in Support Services related to Human Resources. The industry demands a large, skilled workforce proficient in customer service, culinary arts, operations management, and foreign languages. Attracting, training, and retaining qualified personnel is difficult, exacerbated by wage pressures and competition for talent. Service quality, a critical differentiator across the Accommodation, Food & Beverage, and Activities steps, can suffer due to inadequately trained or motivated staff.
4. Infrastructure Limitations: While major hubs are well-served, Transportation infrastructure can be a bottleneck for accessing emerging destinations. Road quality, airport capacity constraints during peak seasons, and limited connectivity to certain regions can hinder tourism dispersal and growth potential. Continued investment in modernizing and expanding airports, ports, and ground transport networks is essential to support projected growth.
5. Financing Access for SMEs: Smaller and independent players, particularly in Accommodation (independent hotels, B&Bs) and Food & Beverage (independent restaurants), often face difficulties accessing affordable capital (Support Services - Finance). This limits their ability to invest in renovations, technology upgrades, marketing, and expansion, potentially hindering their competitiveness against larger, better-funded chains. While luxury segment investment is strong, broader access to financing programs (like the government's "Mejora tu Hotel") is crucial.
6. Intense Competition and Market Saturation: High competition exists in popular tourist destinations and urban centers across Accommodation and Food & Beverage. This puts downward pressure on prices (ADR in hotels, menu prices in restaurants), squeezes profit margins, and necessitates constant innovation and differentiation. The rapid growth of alternative lodging like Airbnb adds another layer of competition for traditional hotels.
7. Regulatory Complexity: Navigating the regulatory landscape (Support Services - Legal/Government) involving licenses, permits, labor laws, environmental regulations, and zoning can be complex and time-consuming, potentially creating barriers to entry or expansion for businesses across the value chain.
8. Seasonality and External Shocks: The industry is inherently vulnerable to seasonal demand fluctuations and external events such as economic recessions, natural disasters, health crises (like pandemics), and security concerns. These can drastically impact tourist arrivals (Promotion/Intermediation, Transportation) and occupancy/demand across Accommodation, F&B, and Activities, requiring businesses to build resilience and flexible operating models. The noted slowdown in air arrivals in early 2024 exemplifies this sensitivity.

Addressing these challenges requires a multi-pronged approach involving public-private partnerships, strategic investments in infrastructure and human capital, fostering innovation, streamlining regulations, and promoting diversification of tourism products and markets.

Value Chain Relationships and Business Models

The functioning of Mexico's hospitality value chain is underpinned by specific commercial interactions involving the exchange of distinct products and services, facilitated by various business models adopted by the players. Understanding these relationships and models is key to analyzing value creation and capture.

Products and Services Exchanged: * Upstream (Promotion/Transport): Marketing agencies provide promotional campaigns and market reach for fees. Tour operators provide packaged holidays (combining flights, hotels, activities) in exchange for retail prices. Travel agencies provide booking services and advice for commissions or fees. Airlines provide passenger seats for fares. Ground transport providers offer rides/rentals for fees. Cruise lines offer cabins/onboard experiences for fares. * Core Services (Accommodation/F&B/Activities): Hotels provide lodging, room service, and amenities for room rates/fees. Restaurants provide meals and drinks for menu prices. Bars/Cafes provide beverages/snacks for listed prices. Activity providers offer tours, attraction access, or recreational services for ticket prices or service fees. MICE organizers provide event planning/execution for management fees. * Downstream (Support Services): Technology vendors provide software/hardware for license fees or subscriptions. Suppliers provide food, beverages, linens, and operating supplies for wholesale prices. HR firms provide recruitment/training for service fees. Consultants provide expertise for project/retainer fees. Construction firms provide building services for contract prices. Real estate investors (Fibras) provide capital/property ownership in exchange for rent/profit share.

Business Models Employed: * Intermediation Models: * Commission Model: Widely used by OTAs (charging hotels/airlines 15-25%+) and traditional travel agencies (earning from suppliers). Also used by delivery platforms (charging restaurants 20-30%+). This model shifts marketing/distribution costs to the provider but can significantly impact margins, representing a key bottleneck/challenge for hotels and restaurants due to high commission rates. * Wholesale/Retail Model: Used by Tour Operators who buy services (flights, rooms) at net rates and sell marked-up packages. * Fee-for-Service Model: Increasingly used by travel agents for consultation or complex bookings, shifting away from reliance on supplier commissions. * Accommodation Models: * Management Contract: Hotel brands (e.g., Marriott, IHG) operate properties for owners, receiving management fees and often incentive fees based on performance. * Franchise Model: Owners pay fees and royalties to use a brand's name, systems, and marketing (e.g., Holiday Inn Express, Fiesta Inn). This allows for rapid brand expansion. * Owner-Operator Model: Common for independent hotels and smaller chains where ownership and management reside within the same entity. * Lease Model: An operator leases the hotel property from the owner (e.g., a Fibra), paying fixed or variable rent. Common for REITs like FibraHotel. * All-Inclusive Model: Prevalent in resorts (e.g., AMResorts), bundling most services into one price point. * Platform Model: Used by vacation rental platforms (Airbnb), connecting hosts and guests and taking commissions from both. * Food & Beverage Models: * Direct Sales Model: Standard for most restaurants, cafes, bars selling directly to consumers. * Franchise Model: Common for QSRs and chain restaurants. * Delivery-Optimized Model: Used by Cloud Kitchens, reliant on delivery platforms and their commission structure (a bottleneck impacting profitability). * Catering Model: Project-based pricing for events. * Support Service Models: * B2B Sales: Direct sales of goods (food, supplies) or services (consulting, marketing, HR). * SaaS (Software-as-a-Service): Subscription-based model for technology solutions (PMS, CRS, POS). * Real Estate Investment Model: Fibras acquire/develop properties to generate rental income or profit shares from operators.

The interplay between these products/services exchanges and business models defines the flow of revenue and value. Key transactional bottlenecks often arise where intermediaries capture a large share of the value (e.g., OTA commissions) or where supply chain costs impact operational profitability (e.g., reliance on imported goods). The choice of business model (e.g., franchise vs. management contract vs. independent) significantly impacts a player's risk profile, control, and potential profitability within the value chain.

Conclusion

The value chain of Mexico's hospitality industry is a complex, dynamic, and highly significant ecosystem. It effectively transforms Mexico's rich cultural and natural assets into tangible economic benefits, attracting millions of international visitors and substantial foreign revenue annually, as evidenced by the 45 million arrivals and over $32 billion USD in spending recorded in 2024. The chain is structured through distinct yet interdependent steps: Tourism Promotion and Intermediation, Transportation, Accommodation, Food and Beverage Services, Activities and Recreation, and essential Support Services. Each step is populated by a mix of large domestic conglomerates (Grupo Posadas, Grupo Vidanta), powerful international brands (Marriott, IHG), specialized players (FibraHotel, AMResorts), and countless small and medium-sized enterprises that form the backbone of the industry.

The analysis reveals strong market performance, with significant size and growth projected for both the hotel ($13.7-$22.9B in 2024) and food service ($72.5-$90.4B in 2024) sectors. Commercial relationships are intricate, utilizing diverse business models ranging from direct sales and franchise agreements to commission-based intermediation and sophisticated real estate investment structures. However, the industry faces notable challenges that act as bottlenecks within the value chain. The high dependency on OTAs and delivery platforms impacts profitability through steep commissions. Human capital development remains a critical need to ensure service quality. Supply chain logistics, particularly the reliance on imports, present cost and efficiency hurdles. Furthermore, infrastructure gaps, access to finance for smaller players, intense competition, and vulnerability to external shocks require ongoing attention.

Recommendations stemming from this analysis include fostering strategies for hotels and restaurants to increase direct bookings and reduce intermediary dependence, potentially through technology adoption and collaborative marketing. Continued investment in workforce training and development programs is crucial. Strengthening local supply chains could mitigate import reliance and support regional economies. Public and private investment in transportation and digital infrastructure remains vital. Facilitating access to capital for SMEs and streamlining regulations could enhance competitiveness. Finally, promoting diversification of tourism products and destinations can help mitigate seasonality and distribute economic benefits more broadly. Further research could delve deeper into the specific economic impact of different business models within the chain, the adoption rate and impact of technology across segments, and the effectiveness of sustainability practices within the Mexican hospitality context.

References

• AMResorts Bets on Mexico for Achieving Goals by 2020 - Travel Professional NEWS®. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALquNis7mR-xhXK8dtFYSJUeiDKplpUt74auAxzktc5kN0K5m6nGXQDFl0XIPW5C_9g7sGGURvz3dkJKaYVTDnpDooPTDSatg2Fe-XTRDlINhrau0c1yrNlLoDaTL3WKqzYqZKculJU19mN53f7I0jnvIJv-4skbKFJqHGOJOQ2Bdxe7mrU_-EYgKxqNTDx
• AMResorts Continues to Grow All-inclusive - CoStar. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJNmhBNjxChH2hml3o99fAEbA7txaTpzI0i9caa2kCyoY1rfNVH5oBylPajwi2olkIK-7ejdVW1XqfunhWUuUwLReNLK8EpwGBG1EOLGXNePq_rL0GnKKc73xl7aSceSzFraN9jZW8zA1maUwnJ7ne-WOGOwTZAUPSBAkmmnr_9OuRZ3QugTzJs
• AMResorts: Revenue, Competitors, Alternatives - Growjo. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJy25Du_uB-5f7D4BPntJVwqSo3Xmi3JC_CfZGksgq1hTlSotjG4U8mbuwjZUQzwbS_mEzeGEY84F2SC8TKuhZOPToyRMQSh5e9e5pWRW2isVulQ9ku7QDoMOQ=
• Apple Leisure Group - SEC.gov. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIKXd7eK7spMadiJMErKu_tMCrIO5acLH74VsldTH9xvXS-re4SWP8yeAvnIaRWVPdRUbjAC2CFyp2Z0Mplu9IVlfB3-Cw8_M63OImqHClTWXQIetQ52mrHauCz5v4G8Na65HlldvrhfoHelW3ik1ZjBUiue7Lh9efBMj_BavU0m9e6dLQ4ZDcZh0=
• CBRE Marketview Hotelería 1S 2024 | CBRE Mexico. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJMcVadMsfxQ5WIH2ltRxYK1V9s5s6O8l40lwO7HFPG6cM65oW3xCzORpFplFm0rDw0CKDFCeIjjdCYJ9K0qc62izOPZ02k0iT_rqLdyWLJVWMKjlBhhZrnd7mr0LnDdSvjOOJ5Z26gyc2COnzz_sgHhpDjqmFqEA6mIEDcuw==
• Creció 13.2% el número de turistas internacionales en México - ContraRéplica - Noticias. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALbenuvD8_VfSFmv9gGC33RlbfOncJTKOt36DRGd9QGM4ml2VbAKgGuY-GdGQtq6LRxPA3d28GRf3KFEsMBSF1wZJ6FGzvGf21TDKf-nvF3wJU3jA3Lx15WCje3p1zynZ_RrAe6jLfILJhZAxLOK9j2KJFys7sII8LidMyUWtTrWYk2ZzYNvA9tqqhR7s_sNv9ZG7BD6oE6IVeRyw==
• El emisor mexicano aumentó un 44% su gasto turístico en España en 2024 - Nexotur. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKdq2ABylNrbVtfWa8bwgTmAIxjKFs8s3bgfLFgpf0BNRJTCF5S65epBmpyUM9Mzr4Zk8B6ay2L5yc6_Qk7cVUakN1BkjjFLWAhLB3MEesa9OWAf0OYxzxhh3kScyCiYdXOluyQxGM9GDtuQjonHchpkSaWwVRu5ycnJ-K8oM12IhzOVCcK3_VwnJhRumhXJWF_Tn2dm6JvypgRGxHUm8h9pw3zChLBo40aaTQppzA=
• El mercado emisor mexicano incrementa el gasto turístico total en España en 2024 hasta alcanzar casi los 3.000 millones de euros | tourspain.es en español. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJiop58mfl_CIU6mXMUJBGtA4IYaQraNcSBnKp2djgMZ2ArBEneusOJJBpVmCWsIPqrb15EuAa1icChxdy8sp1pV-ddsph5U5C-LVcr-I7r-odiJ2JLwDz3ONqH8Zb1813e_JLFTzlxZW3QV65F7_hZNRMxo4Ieynz56mjPnnPwBGjSRQ==
• El turismo internacional en México crece un 8,5 % en enero - SWI swissinfo.ch. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIgiVZaftL5uaP-rXQW-ltXdWXpsPzhlipfLcfosJox-kyw1-c1r7malW-8nufjexcgA_tJaff6ef3S24aajypksmQlzFMpDET-s0JQUzJdNmi2iQH1Iu_g5ydXOEeJxK3BREpAq_cgft8DGfm1VsPkYm_bgaDpVqM9YJs55e89DhVbhRyO9TdPkTRl74a1dHntSvJJKTVIRdzKLuLDNA==
• El turismo mexicano rebasa expectativas con el ingreso de más de 32 mmdd en divisas por visitantes internacionales en 2024 7.4% más que 2023 - Gobierno de México. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIYRmcTw-t67xBexZIzFyU-nUjxjKSOivoaonyWzZEBweixySjk-cKbrqBTnnBW6yJYl4gOYI3-QE3_Z_fphY4DYEe1NIBduZvAi3eibhfbdgkA2LfD7taYKCKTSV7ibR3ygNLFMYGDl7t3OtkeEwKc551azyH6EWeq2BbjAK27Y2yC26cFjIbXxwD7d4gAKDaMaJtz-Fgq_a8jir0s9GPI6dSfmE_UcB3MVeSe1yOu-4DQkWl-0lBSN9YksX_plPDk2082Fk-eJLwFUQzSArCGOeW1p0xC-gN0l3KboxSfCUELnllgevdBzMThB4Qq
• Fibra Inn Announces Fourth Quarter 2023 Results. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAItYJd34whG13yMM5XH4zjHrl7QWbINQ_x3mpcJRc4DR3BczY-f23XY0Nsf3ExXSjY5EmwV4o9Z_dRZGbhR1yDkqHDo_VN45N0dYTVGAZbUt8WuEg9d6jT7hG70ajboAyR5fSIhFNxvCJngaaCH1UFwxnCzYPyxtrN-5sAv99hya5OI4yK8Hrplp-Q=
• FibraHotel (“FibraHotel”), the first real estate investment trust specialized in hotels in Mexico, announces its financial results corresponding to the second quarter of 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKblHsPpbn9AulWmBEc98w8i05c3SL3JivDL0Sq6J_G3yC7T9Q9FhBU6uZ2KszDbMxzlvQsbCNW4SdoOyc80d8pyTFAokld4JBYPVhIp-7fd0hZAwvMaCoBS90ejkoYuspgpz3In9HJEAOh2IIGzQewOvp7Wl_7BN-tHaU9Zpm_yjO9H_Bjn_wGdQr-ifPz43tB0kW4Cz_nvL-DCKOP240TDsx5PdE=
• FibraHotel 2025 Company Profile: Stock Performance & Earnings - PitchBook. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKv-mDchAn14kbm7Yaat9e5LmybqWcYYtY7xwHZUYYAROHP-8x0-QDIAVNxEe8AqjPSmJ5WUU0xfl0x7GnzhXTfYZJiQcjTargWaZgGXbJgPSSas3FR_dwOX3SytrNKw_PKDQd2ArA=
• Grupo Hotelero Santa Fe, S.A.B. de C.V.: Shareholders Board Members Managers and Company Profile | MX01HO090008 | MarketScreener. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALDV6M1A4EwdnHqhTa7x79692pIujWENxsyIjdqgXiaIBRwF3pnlmQVGEzXyO_E9szPJMEJw7dyz_cSXvYuY-Pm2NnsKLLaZ08XyC3sHWdPo3U5Lwbrj1L6Gzob_b2DzgQ1NRp0LGiUZIOBtww011vhGQLx5h7GB8FVC9yh1rVqvoMb8luyXngcZD7OEQ==
• Grupo Hotelero Santa Fe (BMV:HOTEL) Stock Price & Overview. https://vertexaisearch.google.com/grounding-api-redirect/AWQVqAL0xE3dPUILrxnMOTIA4Y-vm_mMFYse38IjsRsk1sYnHY7cEzB6MXJarr8jacg9yd5vddMp5CtNgZEdGJ313G6FlUKqmjvNccu40nbtZR7vDfbr6UfP9aU4pHxmKhPcRSU=
• Grupo Posadas - Wikipedia. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJlfYNPjf7Sw6g5XhPj-1uFQWQWxpoyTtJf9Yp8ogISHhs1OR50xOfjH5uy620JI6VQ_nnPc2nM-7xCO1pw2gAifBzZhFvgt2HKtCGsGVr1pa2CxCOmH1HX7Ha6cCvaQQDP
• Grupo Posadas SAB de CV Company Profile - Overview - GlobalData. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJpiW4i8spDGwc19u_zABUC8u8xo-3WHOOUl6X-0BfTqE_LQ2p4E2VAiPZaLhobeXoq7G1sZzfgTgij9Ue-r6R2AO01beY4kY-aw8sFGoqAmvTSUzKddJRT2hv3u7u4tzWhCkeGJzVZQeioihCOZufUbzddpz8C0S-w
• Grupo Posadas SAB de CV, POSADASA:MEX profile - FT.com - Markets data. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJrdwFTL1LYPTLb3bNRlZ5tDVO23vYzhFec5KubfZkKS3TLpW4yYGdxKQKrxaPvOcBU5WvOvseID7QtNNu2bn68kzPENEcx_FzRcocJQ8YhncRtrYOYO29xIgZ7vmTvykjm-dH89ZOs5dyZDLJLFWa9jRJtP_AvD2xTVAY=
• Grupo Presidente - Email Address & Phone Number - Lusha. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKeZU01zwv8UY2Ui-wln2nbX-LGSxx7QCa9IO9KwjfMkVDwM3RDLkRiyr2HrrGnoIMw11sy-VzTx6QyAZEYTN9kqRIydc7sykEZ0WovpVPJtr7loxs1OK0D3liu0icYq_H9HTtzIU0=
• Grupo Vidanta - Wikipedia. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIvKpBamqU1kTzXgVISE31S6THvrEsC9Zm_7ecHH87rJ-htWPndTvCSi769cIkr_dRBHJ7qs5FBwZtECEW4UVY57CegOfJyNZ2HJYFKW_xbx-HE0xrvG4Jl9MWFkHERFvJn
• Grupo Vidanta Email verification & Email checker | NeverBounce. https://vertexaisearch.google.com/grounding-api-redirect/AWQVqAIpTy1hCAHJx8-8t0WPP8M3VH5wbj56nvTp-qleZUJ0mbYsyaioFIOFs9riHGvwu-6d2IQ29B8iVP6uRjFh1x1-B5vMrhq35dx3HQ2cP5lDoBP60aVsgSI9VbUcGL3Tp-nAolciUWSZci26kJWgHkKCSw==
• HOTEL reports 31% and 28% growth in Total Revenues and EBITDA respectively for 2018 - GlobeNewswire. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJTUilDI_VdZJ8Mp-6iXwv4fcdxfzJ89LOLhPJMpieb4ocxDDtgQJGVWflLURMhl91Su0lx8HPlc9XRkcNdvTshzBzEPoIIhONBVxp8Gtnv8uE4R1TbtReBmR8xF0gRETyerYHscOntmrogLPRPGPhzx4g0Rn4aB061heHf3ymHMJMHiklbjyED4KRVTq9UMIUulVYvOc5uSDyFP16KAM1lkuEeWgyHWQ==
• HOTEL registra un crecimiento de 26% en la UAFIDA del 1T25 - Grupo BMV. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALiKbMy37Oaxde9WQGMll9hvXdcpS2kDtZ2I9LJ7caUwAobwqncvZYoZ9lURx5l3vr2pWxTMKtnsJD1QPupt9k1acG3FtVXxNhsqymLPOcO8w8IFLuJtDgVwp1jqMzJZxvEyFpTGSUoJRf1uyIWIBKhKxVv8LU=
• Hospitality Industry In Mexico Companies - Mordor Intelligence. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJhGK5oKoALNMAokJUhyp8Fp_C9ZwhbUheeS0EkOSGnEuyeDHT6oBCdnPQi0jojir_VaA7YVbVdUSO5wIvy9yeoqhJKwxeMG8-pdYerkFFJLJzD9ghZ-7bO1h_eRsydK5YcP7bZQ7-pBY4TDll2cuZxJ6stXDAo3ZPo03R3YtMBjh7RGO6DetHB3_RtSk3gdviLZg==
• Hospitality Industry in Mexico - Market Growth & Report - Mordor Intelligence. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIOb_p6Bi6JRHWG9-i29R90Hccdv9Xp7mcPpzdx4QcFsp42lIB2O8WItOOSr0x_cgIRbxygr0_Z-ne8nzXEKlWxYVMB7PIkIrSP7qiV-OXLjsEbWiSEwWKyumbMgJXEP-gmCLLrLZesAEv9_PGUWuX0sUbiCoUP63Nu3QW_uIecczh-0DSwL6-N
• IHG Adds Iberostar Brand in Licensing Deal That Expands Its Beach Presence - Skift. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKoNsKEX8m7Cc86GuiscXk114Ui7lWz-TsET9sydESv_NmxqVFJlPusey9Oa91gJp5ZPTcU6x07N5fLt8Zzu9l66b63pb_Nc3IBdQusUXU82zfe-7zJp5N_wfT0FxuJRyK0bptZguemSK09lVTtKCY0cz_ryHeb8yhKiO7HGCzlf3VwLd9SMJhUF7_lPhZrpqqb-cr_L0jOSRKawlOqeg==
• IHG Annual Report 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKfz1N8bECFrs6m1_4YHO9OJrQ-1wfbz4fgypq3UAlilZzOTgh1loBRuMeSCvU4XReen-ARIFNYEPNolt6q-kn6fYPpqqarLCUzMATg_5ggR9R-rmhhyYouf8-By3yKm-Av7-M75OgvcFstij5Kj-CBnUCJliloUg825FgP7FAEILV_qCdc7dfVDnPsBinr-uK
• IHG's midscale portfolio propels growth in the Americas - HOTELSMag.com. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAILK_W7EVCGASakbXbINpFQTbGtkJZYUPiJwQGxl3b75vPvJWVCJIVAL4XMGEOOWYEGtZpMM1Xbu2lReOGgzJL3N8yMaM6IZG2r6BbJqCHOxMFFwHqSzBYUjgtDVD7VZ-7E0M35DO3dQ-_COdOLWj-WG5CfdlwWMOgQhYlclx4nPyAw_hU=
• Industria de Hotelera en México, Informe, Crecimiento | 2025-2034. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJl9dKJ-fZH1eP1K_HSE4lf5C0Bv3OEqg8jtjEwcbhzyWEKbBRXGY_b5FSTwje7vC4FDpA4y8L9SvdyG9qGEwR-05W_R-lUzG2z0ThO-JqU9zVYIY4Csjq4uiYVyquq5zhWqlkChClGTEH9OxcDlhaLXV_V47I9CNN--v4mzI3ieQ==
• Industria hotelera en México - Informe y crecimiento del mercado - Mordor Intelligence. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIFrs1oojOIzbz5hf9dTpGhUJdXaVDrY_p8kCw-d4mE4T_eRGR5FK9vCTGApZSKMxLcIyrlFzk2tuagYg3VRMPfjivb5abuEH7TA6KrAWLPS2mZgfp7ItUHVDOyYNow3nLP8rhguAp3GBeKu_xu8f0JMS9aX9-giZpWEWFwjZR0aoxF1H3Dc3Zy3FI=
• Industria Hotelera, Pilar Del Desarrollo Turístico De México | Secretaría de Turismo. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIUmF_xuN4WlrYOzaJAqzp1SHWYdSWPB4UwZDKUVZs2SYV8OdBS9C5Habg5RTBLy764AaaqjpQWoVYCxfY42yDz1fgSq7hm_94x1jcG_GYBwvDSTuNSfQAlxV0FhUEMA5i_0VpdwhG3dcP50-uroJG4nYZoq-xDAyVspJZULrjvf5y1qI4F9UE08GMUd7z1ZsVIqgIhgWvnAWWEZpTm
• La cadena de valor del destino como herramienta innovadora para el análisis de la sostenibilidad de las políticas turísticas. El caso de España - SciELO Colombia. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALa2jCTqAwYlbHoxZgFIeTS0fOg5RA9Scny3uNis7mR-xhXK8dtFYSJUeiDKplpUt74auAxzktc5kN0K5m6nGXQDFl0XIPW5C_9g7sGGURvz3dkJKaYVTDnpDooPTDSatg2Fe-XTRDlINhrau0c1yrNlLoDaTL3WKqzYqZKculJU19mN53f7I0jnvIJv-4skbKFJqHGOJOQ2Bdxe7mrU_-EYgKxqNTDx
• La industria restaurantera crecerá 6% en 2025: Canirac - El Economista. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAImpEVbQgh0RANZynilU5_Z-GgEqa7iHY4JjONQKHhGgFMwKqkbru7OcBjiU6kx92EorpIMHrdYVkNvJpv_949nvGyNFWdD2RZkihPnlkeM2eeUyC9Xzli3PUKnzHx1svTicrQYT_o9BLE4PeLsq7-taCFjcR1Z16Ix74_GiUSd5S_ipBPPc5sHl1m_1F3U9aSCjHmSXME_Tk0vg2SlJgh_t_F-XQQ==
• La industria restaurantera en México para 2024 con Canirac - ABASTUR hub. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALLTGSrJbUvHAYtsEZLNr8i9swRaY-ztLSREVGji80NADcGf3A6zSLyLHP7WNSghrdDYCX4GRoLtFvARKIQMNGxTgtENERZH_5EEmxjkOi0EdWDk1F_VqvMqkDnw0CYJ200zgGHhBHDFF_UkRJxN8VeGeBP6oh-BxzF_bvjUD6sSxw8kdvNOPPlugFihUNyT3JuGVmnQ-SGFw==
• La industria restaurantera en México y su empeño en ser resiliente - Solunion México. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJedBSvQmWFyHRk356drB4uDA1lDNDHuFnr3Rt0orjUNS1PRzye14FW3gOBGrQMFgbAN1WxNQlw-MRh4YqPNOCfKyhw_OINJtIELJkkANkoe-haHZYQBcyQPEBMqNxbAIrZqIvMYvtvaBPLt-cZ7zYydZ9FmmbRiDwc0ozwDxmfmsdV1EydlAbIK_w9kP_hhH7dZzfQTg==
• LA INDUSTRIA DE LA HOSPITALIDAD EN MÉXICO Y EL DIAMANTE DE PORTER. (Ensayo) - Dialnet. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJotNxcnRr98RuDuwxfNB--plCaCwEW_qCfkNEyV7SIVIJru0VOmqu2wCHK-2imALDfgAhNLua0w7eaPisPYnZQe12qdWY8rgitehp-BGHvW0Cav0p4X7lb6DVjk5LnyJ7K-9OJGK5p7Ep_T9qPoA==
• Las principales compañías de hospitalidad en Global 2025. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAK0yFEEsyPxafutnIvmnBTSEr4pF-eOcv8vMGdEifa2kaIkD6ZuGoyXtVa1QMAEcWe98qVU2wnn-Mlv4kWDxzw99MeNf9UYntpbQTTunTIl4nJHdkrSUtXGfFNfdhLhJYW5IPehe0_8kxgDkseNXcfdmpb34LtiapobAg6Q
• Llegan a México más de 2 millones de turistas internacionales vía aérea según su nacionalidad en enero de 2024 | Secretaría de Turismo | Gobierno. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJ4eq6K4C8hCFa_pXhQrEKrFMVdmcP51JUZUD935P40EiZC7VrdQ9oW-f4TpJo-m5_Ea9PpbU3GmAHniQ5MBBfCLo71v03uKKRaQSLMx1U0ZmQtMZWNLJNK8xJBVxvX92TMVw0g_DrdSxXFcoCoiWo_LbYYmPOjC9MXhFAmEOffkuWrS_fqLbsOxXRrqGgM2whTTwhmzIOQkx_OIktu7c9QHSZbeqqJZ3XgHtUm8XgC_hZZorltEt0MjsbTQjz6Kovpz9wmFk3hhzhcLUVtIw==
• Mercado de Servicios de Alimentos de México ANÁLISIS DE TAMAÑO Y PARTICIPACIÓN TENDENCIAS DE CRECIMIENTO Y PRONÓSTICAS HASTA 2029 - Mordor Intelligence. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKOKc1zBvVfZiA_cPXGy6-ZrH_jQl2BhQYmD84PLo_q8nWFIrPTGAa3bq2UOEdeihvgyGiyu5y_I2e6IyNTisF1xsIk5kReOfZQvjCH5jZzyEyT3IGk219nVYylvOZmwHe54EFEPNsfsf9mlaIbap49wb7Jzo40piqz2iyMpQ-FxVK_ROWs
• Mercado de restaurantes de servicio rápido de América Latina y el Caribe. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAL8PKH7rbZCeUoX__L5RCCETr43OGbHvztoSTzE1TPKFGaOjRI7SwT_krGWDxcG3LRXANNqUU8enzGqlKWp67Jk9OTfVwlEpv7biJxJlT4dmGeDsRcpRBrvRNcSLyOwCEQTviC-2LW3ovTTRDfZitaaKHyyH7oxtMP9O7PgyMK8rlWCLm1khFbLzAvFppPNaBxycbNfP3Gv8qmgFUpINvfY9msm
• México inicia 2025 con alza turística pese a baja en gasto promedio - ContraRéplica. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKUuhKLRqpPPG-tOLWKN1-6MOFUevKXn8vl6KUeo8708SSsUV1VwZyLj_N_KIMv-F4CSpg5UrwuGwUKlStwLhx0XsqLnJgiPzPFTOyvawJ8OcLnHpeB7dW4Hz3-qLMx7wqyg1IuvC3s7tvNcw7zkgfFOCgPXdnwgoAqAY1r-TpWKjK7QB__omD9rmz1TyW8AUnkGxAAY1r-TpWKjK7QB__omD9rmz1TyW8AUnkGg==
• Mexico's Luxury Hotel Sector Investments Grew 50% in 2024. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALunMFTImWfD3sD1cpFiIjEjJCe89apOhw1cxtxFGtaIoSIODi_PiBIXp7JsyR5gvpdcY6OFGvStm5Oi5LtEgMeJFPB3aavwYc42SRvVetJD-KqEde9BOojgpwy3oS2jFY_kOhPmbLlqYk_rVrzFo_H94VoZ_lHjATiPRdnCW5MgNyP9yx-9UVCZCnqRduaDME=
• Más de 40 millones de turistas visitaron México en 2024 - atiempo noticias. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALVTa6VUhVrlm4n0caa2B5jxvIH8ZorL7aovw_7zxP3xYypqdE6TamVxuiOjRB92ZbWtFl3LCyvAZtnQLJGZxv82961g1DYU1Eg6_JdjM8Zi6f1oizjKzotaLITyRG-J37kBkjHQxtqd5DwUQHt4K_rwInzQzjC-W5HKYqAMz_l4pyjk4cu9kWGZI05Qw==
• Oferta de hoteles en México se dispara 172% en lo que va del 2024 - El Economista. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALuEPv4wJyCguCSKdjWCWAUvlmBONyaQJ6zVlgvAj1mCoeel3ZJ5NaibJ0CxyEfO8zuGiSLGaouwWLyunddzaxbUWTXtwBLhcsOvwEzue9No3_rfHbbjWGhJF8sbP78xuXn0CNCoHdHlMh0rnFs7MWXCiPpbljqCBimSwAJUbJd5KPoGKKdk6hnpoOnM20ZUCnY0PRjXtycVQ==
• Operating & Financial Results: Fourth Quarter 2023 - Grupo Posadas. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKsLPXM8bZspk4ubEjucQMyw6egLMojoehVHYZMOvQvljTDnZQlwr_clnT5PqwCPg-UKfjEFqi2tIG-NnE2g706qTg85Nwa9tOaURQ3zgI-1IUqimS117m_iGenRmpgxiF9wTj9LJlIk92g-lrBaAx4vw==
• Papel de la agencia de viajes y del operador turístico | 2025 - Cesuma. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIZa3Yb3KsZsO6OwXC5UOKWOD7t2SsseuQfAyyr-_vkQEf6jGwdcG2TclkVQxZkAV-l2O5NzOZ-W950oikrQTBOZrT6i41Qh2xXFzIcu1l4Kb-hd2w0B8xtbWF3iR_RqgIdovsTdiCqIFJP8eIHVjx9e6XXhdpAqXxfnt-XtzeVgRtX-0gdesGF5ZesSp7ko9er4i4LEEP6ItglDafZuIY47-O6Vyul
• Posadas, Mexico's Largest Hotel Group, Competes Against Global Giants - Skift. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIcYuw9E4Sh9Ls8kvocKIU5-wlcIkKzpuUAkGmlZMgfOszPMsq65B__H_mHPbC4Pm4zOFFtPZ7KqSqCA-el6_RL7zUTxbhOhwkadXSck7z9CvcMBjVWz1qh54SyD7n4waGvxuhhWYa4C6GV4KY6NVbmoaxXX-giX4ix3pzikIOQmgohGchReXddgz0iVIVdU8mfxF05cGRuIXek
• Programa Mejora tu Hotel | Secretaría de Turismo | Gobierno | gob.mx. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJSHj5jcXgFFLOyUEoqdWPJJNwrAUZLZqFk6f-aDoea_FtO-KZcbjUZhnxyfKI4phl322xkjX-BhgvsnhtAekBu1t0tCse6WuAGsrnrBsCa7GIcG38e-jMNSedrQNtGQ_pgwl3e4aFGxc20wiS0FAZQIb34Bzs7CA==
• Reporte de hotelería y turismo 1S2023 | CBRE Mexico. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALe33lVIj4uNKt26svajv6oc-Yw4uikbwW-5Ml_b_3SebmGeKmNJtiyH5h8UkRaCVyJ6_UrCZAIDanaTOqcKb41A_Z7ZV6eio1Wr4kQTtae508d2eSw-RCo_1tq3NPTIOL0Q9SB-Wcf0zfVgDldIT5uU0tfQJADJcUVX0V2UGsa8Ko=
• Restaurantes mexicanos Tamaño del mercado, participación y crecimiento hasta 2033. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJhYRDaxUlf_Hc9Rx5T9qjFkms-2_RnnD0QBLWRaCyhVc3JCYETsX4ScPv6kgnXSPHpXakpdoAYI6etwXSUbzt5lACAxn1u1xwXvlx7TcUPPyJvzuAClDNNTjY3nNlrYnZMPYCOD1VtOa0S6ytJInmNFQHv2Q21ktn075wo9RJeSZD-Nyyw6jVAduDqGPRhg7V2
• Se confirma desaceleración de turismo internacional hacia México - Concanaco Servytur. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqALowrQtHnJINvUNaCPjMSprl9Lvyeq7VyTI4aIHE38kCnRsN_DQVXZCfutBetjUYudm8YaPlrJ9dvrTqAIczoj-nIHs-Zo2sJDb577G-crq_mhL9fMqgTtwPcS-uxvWj3SBMrw6ynjrJtyRKTSWxdzEtNELHs5VivOs4p5niySrb1ZIKgWg-fZ5XOw61SOfKxZ2Yqmpfhb3SHvw0FFBMYClq1qixz227ZI9
• Tourmundial-Mexico. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAKh2cx2RYigZI1-CgktpW4zxxWA2Gl4QdMr54Q-oyKmbPnToR14mzeHAZpv89_dm_KYbwcxZpG0gGcAMXD9Fc5ZqMe5936BGsGLMlsN
• ¿Cuál es el rol del operador turístico? ‍‍ | 2025 - Cesuma. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAJ8Apkzm85NufYq9o4rN71h5HNtGl6hVmM-I_BoGKhorSSCfMSRQ0q8tIGBxKGlM_c3MYRfnlEIj1G6FKTvH7Sb5T-3x3N-wbaMVKHYni4GlMOJKsQdR9cijW9GIWYCNrC7aWLhYq0ZE9smtJxxUAXZBd-u_hA-8HaRzg==
• ¿Quiénes mueven el mercado gastronómico? La industria crece 4.5% en 2024 mirando a un 2025 más optimista - El Economista. https://vertexaisearch.cloud.google.com/grounding-api-redirect/AWQVqAIxWv2wsCf6wGlLZpTBpr2yHA-ajq1icBgxY9nw1NSirzQ0LymRlvpejSf1nfFZwPl_HKWKQxoaH1ianaDoIW4E5WYTb-dARetzt7nBoDZz-0gIQleifXjC7Hbzi-Q875XVFcPfKV5TlftReMN2cBQyY7ZnRPjj6IfqQ4QEoT_9wwaf8qqBQSYd32Km627UgKABpj-c5GF-jiTCSHJeN07hwe4P9ES3WuxAQVBFPb6_-0tWoy-6FWU6sUaRr2JH480rtpooI9GER1BD