According to STR's April 2016 Pipeline Report , 28,715 rooms in 178 projects Under Contract in the Caribbean and Mexico regions. The total represents a 3.8% decrease in rooms Under Contract compared with April 2015 but a 9.3% year-over-year increase in rooms In Construction.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the unconfirmed stage.
The region reported 12,809 rooms in 79 projects In Construction for the month.
Among the region's key markets, Central Mexico (3,846 rooms in 30 hotels) reported the largest number of rooms In Construction, followed by Yucatán Peninsula, Mexico (1,795 rooms in eight hotels) and Northwest Mexico (1,441 rooms in 12 hotels).
According to STR's August 2016 Pipeline Report, 27,951 rooms in 172 projects Under Contract in the Caribbean/Mexico region. The total represents a 1.7% decrease in rooms Under Contract compared with August 2015.
Recent record-breaking growth in tourism, combined with new and on-going government incentives and investments in airports, highways and marinas, has contributed to an increase in luxury real estate sales