The Caribbean/Mexico region reported a 27.5% year-over-year increase in the number of hotel rooms in construction during October.
STR’s October 2017 Pipeline Report shows 44,556 rooms in 245 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 39.0% increase in rooms Under Contract compared with October 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Caribbean/Mexico region reported 17,954 rooms in 98 projects In Construction for the month. Based on number of rooms, that is a 27.5% increase in year-over-year comparisons.
Four of the key STR-defined markets in the region reported more than 1,000 rooms In Construction:
- Central Mexico (4,767 rooms in 36 projects)
- Yucatan Peninsula (2,946 rooms in nine projects)
- Dominican Republic (2,188 rooms in seven projects)
- Northwest Mexico (2,137 rooms in 13 projects)
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