Caribbean/Mexico Hotel Development Pipeline Under Contract Up 39.0 Percent YOY for May 2017
The Caribbean/Mexico region reported 13,503 rooms in 82 hotel projects in construction during May 2017, which is a 7% year-over-year increase in the number of rooms under construction.
STR’s May 2017 Pipeline Report shows 39,434 rooms in 226 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 39.0% increase in rooms Under Contract compared with May 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Caribbean/Mexico region reported 13,503 rooms in 82 projects In Construction for the month. Based on number of rooms, that is a 7.0% increase in year-over-year comparisons.
Three countries in the region reported more than 1,000 rooms In Construction:
- Mexico (8,649 rooms in 61 projects)
- Cuba (1,318 rooms in two projects)
- Dominican Republic (1,025 rooms in four projects)
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Categories: Hotel Industry News