Exchange rates and inflation

Exchange rates and inflation

The exchange rate of the peso with the United States and Canadian dollars and the inflation that is rising, represent a challenge for the hotel industry in Puerto Vallarta and the region Because the dollars coming to companies are decreasing, but payroll and inputs continue to increase.

In the context of the Gala Puerto Vallarta-Riviera Nayarit tourist event, Francisco Rangel, General Manager of the Fiesta Americana Hotel, noted that at this time of strength of the Mexican peso, Foreign tourists are being very careful in their spending due to the low purchasing power of their currency.

“We are seeing more restrained spending by tourists from the United States and Canada, who are aware of the exchange rate, they highly value the climate and the hospitality of the people, but they are very careful with their spending.”

The renowned hotelier said that although the average rate in hotels is 4 and 5 Stars cost about $300 per night, now representing only 16 pesos, not about 22 pesos as before. While inflation in payroll payments and inputs, especially food, continues to rise.

“This year represents a challenge for the entire tourism sector, especially for those of us who receive dollars because while it seems that we receive more, we must remember that we get less on the exchange rate. get weight.”

However, the hotelier shared that the Gala 2024 event has once again been a great opportunity to showcase the port and the region’s tourist attractions. And now is a good time to reconsider adjusting hotel rates to give fair value to a tourist product. There is huge demand for it from the passengers.

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This, he said, is an issue that involves all tourism service providers as well as officials at all levels so that the destination remains competitive.

“This gala has been an opportunity to show the beauty of Puerto Vallarta to all our partners, who know everything we offer, but we must keep it very competitive with the work of all sectors.”

Similarly, Francisco Rangel explained that the wholesale agents who visit the hotels within the framework of Gala inspect the conditions in which they are located, their attractions and novelties, the security aspects, And they also give importance to the city’s infrastructure in choosing where to take their customers., He said that competition with the Caribbean is tough, which is why we must keep Puerto Vallarta in optimal conditions.

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