Caribbean, Mexico Hotel Pipeline Grows
The number of hotels under construction in the Caribbean/Mexico region increased 15.4 percent year-over-year in January, according to STR Global.
The total hotel pipeline includes 160 hotels with 26,557 rooms according to the January report. This represents a 30 percent increase in rooms in the active pipeline -- projects in construction, final planning and planning stages.
The upper upscale segment recorded the largest increase in rooms in the total active pipeline, increasing 11.45 percent with a total of 3,366 rooms. The segment is followed by the midscale segment, with an 84 percent increase, with 1,949 rooms, and the upper midscale segment, 50.9 percent, with 4,918 rooms.
The luxury segment had the only decrease in rooms, falling 6.0 percent with 6,520 rooms.
When analyzing the "under construction stage," the upper midscale segment increased 114.1 percent with 2,124 rooms, leading all other 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.
A separate report from STR showed a 31 percent yearly increase in hotel rooms under construction in the U.S.