Caribbean/Mexico Hotel Development Pipeline Under Contract Up 44.7 Percent YOY for July 2017
STR's July 2017 Pipeline Report shows 41,131 rooms in 234 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 44.7% increase in rooms Under Contract compared with July 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 16,015 rooms in 89 projects In Construction for the month. Based on number of rooms, that is a 23.6% increase in year-over-year comparisons.
Four key markets reported more than 1,000 rooms In Construction:
- Central Mexico (4,466 rooms in 34 projects)
- Yucatan Peninsula (2,946 rooms in nine projects)
- Northwest Mexico (2,350 rooms in 14 projects)
- Dominican Republic (1,193 rooms in five projects)
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