Caribbean And Mexico Hotel Development Pipeline For January 2014 Rises to 160 Hotels
The Caribbean/Mexico hotel development pipeline comprises 160 hotels totaling 26,557 rooms, according to the January 2014 STR Construction Pipeline Report. This represents a 30.0-percent increase in rooms in the active pipeline, compared with January 2013, and a 15.4-percent increase in rooms under construction. The total active pipeline includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Pre-Planning stage.
Among the Chain Scale segments, the Upper Upscale segment reported the largest increase in rooms in the total active pipeline, rising 114.5 percent with 3,366 rooms, followed by the Midscale segment (+84.0 percent with 1,949 rooms) and the Upper Midscale segment (+50.9 percent with 4,918 rooms). The Luxury segment reported the only decrease in rooms in the total active pipeline, falling 6.0 percent with 6,520 rooms.
Looking specifically at the Under Construction stage, the Upper Midscale segment increased 114.1 percent with 2,124 rooms in rooms under construction, reporting the largest increase among the Chain Scale segments. The Upper Upscale segment (+64.0 percent with 946 rooms) and the Upscale segment (+32.4 percent with 1,909 rooms) also reported significant increases in rooms under construction. The Midscale segment posted the largest decrease in rooms under construction, falling 42.1 percent with 449 rooms.
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