Hyatt Says Cancún Demand Is Rebounding as 2027 Bookings Build

Cancún, Quintana Roo — Hyatt’s all-inclusive portfolio kept feeling the drag of soft Cancún demand in the third quarter, but chief executive Mark Hoplamazian said Thursday that travel to the Mexican Caribbean destination has already started to turn around.

“Travel to Cancún is improving as we speak, and we see that continuing into the first and second quarter of next year,” Hoplamazian said during the company’s quarterly earnings presentation, calling the pickup in bookings “very encouraging.”

Hyatt reported a 2.5% decline in revenue per available room across its all-inclusive division for the quarter, a drop driven largely by Cancún, where the company said performance fell by more than 10%.

Mexico and Jamaica weigh on results

Chief financial officer Joan Bottarini said Mexico’s recovery from the unrest of February has taken longer than the company expected. Booking trends at Hyatt’s all-inclusive resorts in Mexico are improving, she said, though they have not recovered as much as anticipated for the fourth quarter, while 2027 is “setting up very well.”

Jamaica also held back results. Hurricane Melissa forced resort closures on the island, and Hoplamazian said air service “dropped so severely” this year. Flights to Jamaica are now growing significantly, which he described as “a very fast ramp for restoration.”

The comments echo those of executives at ALG Vacations, Hyatt’s tour operator arm. Ray Snisky, the group’s president, said airlines have cut 1 million seats to Cancún and 700,000 to Jamaica compared with 2024, but he expects capacity to return in full by the second quarter of 2027.

Hyatt, the chain with the largest room count in the Caribbean, said the Dominican Republic “has had an absolutely stellar year,” powered by a surge in airlift, and expects the country that hosts Punta Cana to keep drawing strong demand.