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Airbnb building real estate project in Cancun Hotel Zone

Cancun, Q.R. — A Cancun real estate developer says that Airbnb is building their own luxury apartment complex in the Cancun Hotel Zone to compete with the hotel sector.

Miguel Ángel Lemus Mateos reports that the vacation property platform, Airbnb, is in the process of building a 12-apartment real estate project in the Cancun Hotel Zone that will cater to luxury vacationers.

He explained that the investment is ready and construction will begin at the end of 2018. The project, Airbnb Plus, will consist of 12 apartments aimed at the luxury vacationer with nightly prices reaching as high as $1,000 USD. Each apartment will be completely furnished, offer luxury finishes and a minimum of three bedrooms.

“The project of the complex is a property that will be a condo-hotel and will allow investors to acquire the development and offer it on platforms for this market segment that spends up to three times more than the average tourist,” he said.

The new real estate project is set for construction in the middle of the Cancun Hotel Zone where there are already nearly 140 accommodation places, most of whom are against the vacation platform since they do not pay hotel-level taxes.

The Hotel Association of Cancun is against the platform saying they do not pay total taxes as a hotel does, and although the Secretariat of Finance and Planning imposed the Lodging Tax for the hotel sector, it is not enough for many hoteliers.

According to the Directorate of Supervision there are already more than 9,000 rooms in Benito Juárez that are rented by Airbnb that average 18,000 guests.

In April, Airbnb announced they will begin promoting Cancun and Riviera Maya in their Airbnb Experiences since the region is the  second most important region for them after Mexico City.

The company also reported that Playa del Carmen, Riviera Maya was the power vacation spot during Easter, making it the reservation leader in Latin America.