Above: the Baha Mar project in New Providence
By the Caribbean Journal staff
The Caribbean/Mexico hotel development pipeline is now up to 160 hotels totaling 26,795 rooms, according to a new report from hotel analytics firm STR.
According to the April 2014 STR Construction Pipeline Report, this total represents a 21.7 percent increase in rooms under contract compared to the same period in 2013.
It also represents a 14.8 percent increase in rooms under construction.
Rooms under contract include rooms in the “In Construction, Final Planning and Planning,” according to STR.
There are 43 hotels in the region expected to open their doors in the rest of 2014, with a total of 7,441 rooms.
Of that group, the largest segment is the unaffiliated segment, which will see six hotels and 2,214 rooms. The luxury segment will see 8 hotels and 1,871 rooms open this year.
Next year, another 53 hotels are expected to open in the Caribbean and Mexico region, with 10,218 rooms, led by the luxury segment with 2,804 rooms.