Caribbean, Mexico Hotel Pipeline on a Roll
A total of 131 hotel projects accounting for 29,187 rooms were reported in construction as of April in the Caribbean and Mexico, according to STR.
The number represents a 30.7 percent Q1 jump year-over-year in rooms in the final phase of the hotel development pipeline.
Three segments accounted for a majority of the rooms under construction. The Upper Upscale segment posted a 37 percent jump, to 6,566 rooms. Luxury, the second highest segment, accounted for 6,215 rooms under construction, up 33.9 percent. Upscale, with 5,886 rooms, decreased 1.5 percent.
Four countries each reported more than 1,000 rooms under construction. In the Caribbean, the Dominican Republic led, with 6,216 rooms, representing 8.9 percent of the country's existing supply, followed by Jamaica at 2,144 rooms, 8.4 percent of supply; and Cuba with 1,327 rooms, 2.1 percent of supply.
Mexico was the biggest, with 15,731 rooms under construction, representing 3.9 percent of the country's existing supply.
Source: Travel Weekly