Slight increase in rooms under contract

By the Caribbean Journal staff

The Caribbean-Mexico Hotel Construction Pipeline is up to 167 hotels and 29,113 rooms, according to the latest STR Construction Pipeline report.

That represented a 3.5 percent increase in rooms under contract compared to July 2014, and a 4.5 percent year-over-year increase in rooms under construction.

STR’s Under Contract data includes projects in the “In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage,” according to the company.

The luxury segment represented the largest portion of rooms in construction in the Caribbean-Mexico region, with 33.5 percent and 4,478 rooms.