By the Caribbean Journal staff

There are 164 hotels totaling 28,046 rooms under contract in the Caribbean-Mexico region, according to the latest STR Construction Pipeline Report.

That represented a 4.7 percent decrease in rooms under contract compared with October 2014, and a 12.9 percent year-over-year decrease in rooms under construction.

STR’s under contract data includes projects in the In Construction, Final Planning and Planning stages.

It does not include projects in the unconfirmed stage.

The upscale segment accounted for the most number of rooms under contract, with 6,433 rooms in the region.

The luxury segment accounted for the largest portion of rooms under construction, at 4,258 rooms in the wider region.