Tulum Hoteliers Seek Bank Support to Restructure Debt Amid Tourism Crisis

Cancun, Quintana Roo — Tulum’s hotel sector is seeking government assistance and streamlined access to commercial and development banks to restructure debt after a year hit by a tourism downturn and heavy sargassum arrivals.

David Ortiz, president of the Mexican Caribbean Hotel Council and head of the Tulum Hotel Association, said some hotels have not exceeded 15% occupancy during recent seasons. Many have no money left to cover payroll, much less pay for sargassum removal from the region’s beaches.

Ortiz had previously warned that many small hotels barely staying afloat could suspend operations or close temporarily until the crisis passes and visitor numbers recover more clearly.

That situation, along with other regional factors, has left many businesses that already carry loans in a difficult position, requiring fresh capital to escape the downturn.

Ortiz said the issue of financing and restructuring has already been raised at the federal level, but the industry now plans to submit a formal request to support the sector and protect jobs.

The request would be made to the corresponding authorities so that hotels can be supported through commercial and development banks to obtain debt restructurings.

“It is something we will be raising, and we will do it more precisely because the hotel industry needs this support,” Ortiz said.

He acknowledged that for many developments, paying for sargassum removal and payroll remains unsustainable. Some hotels are spending up to 500,000 pesos a week on sargassum cleanup while lacking enough income to cover their payroll.