Caribbean/Mexico Hotel Development Pipeline Under Construction Jumps Up 25.0% Rooms for September 2017

The Caribbean/Mexico region reported a 29.3% year-over-year increase in rooms under contract in September, according to STR data.

STR's September 2017 Pipeline Report shows 42,259 rooms in 241 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 29.3% increase in rooms Under Contract compared with September 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 17,450 rooms in 99 projects In Construction for the month. Based on number of rooms, that is a 25.0% increase in year-over-year comparisons. 

Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (24.2% with 10,242 rooms). The Upper Upscale segment accounted for the largest portion of rooms In Construction (23.2% with 4,050 rooms).

Caribbean/Mexico pipeline by Chain Scale segment (number of rooms % change, September 2017 vs. September 2016):

Chain Scale In Construction % Change Under Contract % Change
Luxury 3,599 +6.7% 6,701 +25.0%
Upper Upscale 4,050 +171.6% 7,800 +38.8%
Upscale 3,614 +15.0% 10,242 +26.0%
Upper Midscale 2,359 -7.1% 5,327 +21.5%
Midscale 1,714 +64.2% 3,761 +39.4%
Economy 321 -39.3% 1,039 +96.4%
Unaffiliated 1,793 -2.7% 7,389 +24.0%
Total 17,450 +25.0% 42,259 +29.3%

Source: STR / report as of September 2017, activity reported through August 2016

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