The Caribbean-Mexico hotel development pipeline continues to grow, according to the latest report from hotel analytics firm STR.
The region had a total of 31,570 rooms in 188 projects under contract in December, a 10.5 percent increase over December 2015.
Under contract data includes hotel projects in the In Construction, Final Planning and Planning stages.
There were 12,387 rooms in 82 projects in construction in December, a 6.9 percent increase year over year.
The segment with the largest percentage of rooms under construction was the luxury segment, with 21.2 percent or about 2,632 rooms.
— Caribbean Journal Staff