By the Caribbean Journal staff
The Caribbean-Mexico hotel development pipeline is surging right now, according to the latest report from analytics firm STR.
There were 42,259 rooms in 241 hotel projects under contract in the Caribbean and Mexico last month, according to STR.
That represented a 29.3 percent increase in rooms under contract compared to September 2016.
Overall, the Caribbean and Mexico reported 17,490 rooms in 99 projects in construction last month, itself a 25 percent year-over-year increase.
Under contract data includes hotel projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.