No Night Dives?

[jlyle]

Not sure what you seen or what your driver was referencing - Scuba Club is closed with no reopening date planned per the lady I spoke with a few days ago and the security guard I just spoke with, per him “maybe next year”.

This island is worse than a bunch of little old ladies at the grocery store (no offense meant, I love little old ladies!!) - rumors, rumors and more rumors.

Scuba Club is a pretty unique property and I’m sure it’ll reopen at some point - they are reporting just a 21% occupancy in all the hotels currently open on the island, I’m sure the few that aren’t open yet aren’t open for reasons related to that.

Yes, I exchanged emails with one of the dive guides at SCC and he says they are not open and he does not know when they will reopen.

 

[Snoweman]

Not sure what you seen or what your driver was referencing - Scuba Club is closed with no reopening date planned per the lady I spoke with a few days ago and the security guard I just spoke with, per him “maybe next year”.

This island is worse than a bunch of little old ladies at the grocery store (no offense meant, I love little old ladies!!) - rumors, rumors and more rumors.

Scuba Club is a pretty unique property and I’m sure it’ll reopen at some point - they are reporting just a 21% occupancy in all the hotels currently open on the island, I’m sure the few that aren’t open yet aren’t open for reasons related to that.

It blows my mind that some VRBO/Airbnb's are keeping their prices pretty high. Most of the El Cantil places are still over $300/night. The beachfront places in Tulum are $800-$1,500/night, or more. This is for August/September dates.

 

[ChuckP]

It blows my mind that some VRBO/Airbnb's are keeping their prices pretty high. Most of the El Cantil places are still over $300/night. The beachfront places in Tulum are $800-$1,500/night, or more. This is for August/September dates.

There's definetly a different line of thought when it comes to prices and valuation here - you can see it all around with the empty or half finished buildings.

 

[Snoweman]

There's definetly a different line of thought when it comes to prices and valuation here - you can see it all around with the empty or half finished buildings.

Most other places are dirt cheap.

 

[ReefHound]

It blows my mind that some VRBO/Airbnb's are keeping their prices pretty high. Most of the El Cantil places are still over $300/night. The beachfront places in Tulum are $800-$1,500/night, or more. This is for August/September dates.

I wonder if it meant have something to do with insurance claims or tax credits or govt aid or something? If they advertise and book at $100/nt then they can't claim a loss of $300/nt for all the vacant nights.

 

[DandyDon]

It blows my mind that some VRBO/Airbnb's are keeping their prices pretty high. Most of the El Cantil places are still over $300/night.

That might be because most of these properties are owned by people not trained or experienced in the hotel industry so are irrationally optimistic about covering their investments and expenses.

Most other places are dirt cheap.

These being owned by experienced hoteliers who realize and appreciate that they cannot control demand.

I wonder if it meant have something to do with insurance claims or tax credits or govt aid or something? If they advertise and book at $100/nt then they can't claim a loss of $300/nt for all the vacant nights.

And then there are the possible complications.

 

[cozcharlie]

There's definetly a different line of thought when it comes to prices and valuation here - you can see it all around with the empty or half finished buildings.

I think there may be a different line of thinking between people who rent out their vacation homes to earn a little money on the side and those that are truly relying on renting to cover their bills /support themselves For people who are using rentals to to cover bills/support themselves , they probably would be more willing to cut prices to get some revenue as opposed to none (except the big families who own much of the island —that is whole different story ). For the owner that just rents occasionally to mitigate ownership costs, they may be less willing to cut prices because they aren’t dependent on the revenue in the first place.

Background for my thinking: Given mortgages in Mexico are not particularly common (yes possible , but at interest rates that people from the US would choke on ), people tend to own their vacation homes/condos outright. This means that they aren’t trying to cover mortgage payments with rental revenue. This leads to a pricing decision at least partly based on what is the minimum level of rent they will accept given the wear and tear on the home and hassles involved. This minimum level doesn’t go down in a pandemic (might even go up ). High season pricing is obviously more around what the market will bear.

Bottom line , if you own a 500k condo and aren’t relying on the money , you probably shouldn’t rent it out for 125 bucks a night given the costs and headaches involved (commissions, housekeeping , electricity, maintenance etc ) I’m not saying 300 hundred a night is the right number (sounds high ) , but just remember they probably are not in situation where some rent is automatically better than no rent.

 

[lionfish-eater]

My friend Tom has reduced pricing for his condo.
It is a beautiful 3 bedroom condo at Palmar.
The pool deck overlooks Tikila.
It is located near Casa Del Mar.
Some scubaboarders have stayed there in the past based on my recommendation and all have enjoyed their stay.
Clean and private condo to avoid the hotel exposure.

Vacation Rentals, Homes, Experiences & Places - Airbnb

 

[newgentry]

I think there may be a different line of thinking between people who rent out their vacation homes to earn a little money on the side and those that are truly relying on renting to cover their bills /support themselves For people who are using rentals to to cover bills/support themselves , they probably would be more willing to cut prices to get some revenue as opposed to none (except the big families who own much of the island —that is whole different story ). For the owner that just rents occasionally to mitigate ownership costs, they may be less willing to cut prices because they aren’t dependent on the revenue in the first place.

Yep. What he said.

 

[ReefHound]

My friend Tom has reduced pricing for his condo.
It is a beautiful 3 bedroom condo at Palmar.
The pool deck overlooks Tikila.
It is located near Casa Del Mar.
Some scubaboarders have stayed there in the past based on my recommendation and all have enjoyed their stay.
Clean and private condo to avoid the hotel exposure.

Vacation Rentals, Homes, Experiences & Places - Airbnb

We were going to stay at one of the units there last year but the other couple could not commit (but ended up going). All the units we compared looked great and the place is in a great location. Tom's current price is super low for the size of unit.