Luxury Segment Dominates Caribbean and Mexico Hotel Pipeline
The Caribbean/Mexicohotel development pipeline is made up of 167 hotels totaling 28,140 rooms, according to the July 2014 STR Construction Pipeline Report.
This is a 21.8 percent increase in rooms under contract, compared to the same time last year, and a 23.2 percent increase in rooms under construction. Among the Chain Scale segments, the Luxury segment accounted for the largest portion of rooms Under Contract, with 6,028 rooms. Three other segments each accounted for more than 150 percent of rooms Under Contract: the Upscale segment; the Upper Midscale segment; and the Unaffiliated segment.
The Luxury segment and the Unaffiliated segment made up the largest portion of rooms under construction in the region.