Caribbean/Mexico Hotel Development Pipeline Under Contract Up 41.6 Percent YOY for April 2017
STR’s April 2017 Pipeline Report shows 40,657 rooms in 222 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 41.6% increase in rooms Under Contract compared with April 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 15,781 rooms in 86 projects In Construction for the month. Based on number of rooms, that is a 23.2% increase in year-over-year comparisons.
Three key markets reported more than 1,000 rooms In Construction:
- Central Mexico (5,137 rooms in 39 projects)
- Northwest Mexico (2,010 rooms in 12 projects)
- Dominican Republic (1,025 rooms in four projects)
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