Hotel Construction Increases in the Caribbean and Mexico.

According to the STR Construction Pipeline Report from August 2014, the Caribbean and Mexico hotel growth pipeline includes 164 hotels with a total capacity of 27,621 rooms. apartment

In comparison to August 2013, this reflects a 17.7% rise in rooms under contract and a 21.9 percent increase in rooms under construction. Rooms in the Construction, Final Planning, and Planning stages are included in the total number of rooms under contract; however, rooms in the Unconfirmed stage are excluded.

In the first eight months of 2014, 96 hotels with 14,848 rooms opened in the city. 28 new hotels with 4,973 rooms are scheduled to open in the rest of 2014. The Unaffiliated segment would gain the most rooms (1,971 rooms in five hotels), followed by the Upper Midscale segment (1,031 rooms in nine hotels) and the Luxury segment (1,031 rooms in nine hotels) (935 rooms in three hotels).

A total of 58 hotels with a total of 10,848 rooms are scheduled to open in 2015. The Luxury segment is expected to add 2,838 rooms across 10 hotels, making it the segment with the most room additions. The Upper Midscale segment (2,287 rooms in 17 hotels), the Unaffiliated segment (2,181 rooms in six hotels), and the Upscale segment (2,181 rooms in six hotels) are all forecast to add more than 2,000 rooms in 2015. (2,122 rooms in 16 hotels).

 

In October, the pipeline for hotel development in the Caribbean and Mexico shrank.

According to the STR Construction Pipeline Report from October 2015, there are 164 hotels under contract in the Caribbean and Mexico area, totaling 28,046 rooms.

This reflects a 4.7 percent drop in rooms under contract since October 2014, and a 12.9 percent drop in rooms under construction year over year. Projects in the In design, final planning, and planning stages are included in the under contract details, but projects in the unconfirmed stage are not.

For the month, the region announced 12,186 rooms in 68 hotels under construction.

Upscale (22.9 percent with 6,433 rooms), Luxury (20.7 percent with 5,799 rooms), Upper Upscale (17.2 percent with 4,825 rooms), and Upper Midscale (15.0 percent with 4,825 rooms) were the four Chain Scale segments that each accounted for 15.0 percent or more of rooms under contract (17.0 percent with 4,772 rooms).

With 34.9 percent of rooms under construction, the luxury segment was the most common (4,258 rooms). The Upper Midscale (18.0 percent with 2,191 rooms) and Upscale segments each accounted for more than 15.0 percent of rooms under construction (16.8 percent with 2,047 rooms).

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