Luxury Hotels Leading Caribbean-Mexico Hotel Pipeline
By: Caribbean Journal Staff - June 11th, 2015
By the Caribbean Journal staff
Luxury hotels are dominating the number of hotels in construction in the Caribbean and Mexico, according to the latest STR Construction Pipeline Report.
There were 171 hotels and 29,846 rooms under contract in the wider region in April, according to the report, up 11.4 percent from the number of rooms under contract in April 2014.
That also represented a 1.3 percent year-over-year increase over the number of rooms under construction.
And luxury hotels led that category, with 36.2 percent of all rooms under construction, or a total of 4,240 rooms.
The next largest proportion of rooms was the upper midscale category, which accounted for 17.9 percent of rooms under construction or 2,102 rooms overall.
