By the Caribbean Journal staff
The Caribbean-Mexico hotel development pipeline stood at 165 hotels and 29,252 rooms in November, an 18 percent increase in rooms under contract compared to the same period in 2013.
That was according to the latest STR Construction Pipeline Report.
The total number of rooms under contract included rooms in the In Construction, Final Planning and Planning stages.
The largest portion of such rooms came in the upscale segment, with a total of 6,945 rooms under contract, followed by the unaffiliated segment, which included 5,900 rooms.
The luxury segment posted a 19.7 percent year-over-year increase, with a total of 5,759 rooms under contract.
Among rooms in construction, the luxury segment represented the largest segment, with a total of 3,677 rooms.