According to STR's October 2016 Pipeline Report, 32,056 rooms in 190 projects Under Contract in the Caribbean/Mexico region. The total represents a 14.3% increase in rooms Under Contract compared with October 2015.
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 14,087 rooms in 90 projects In Construction for the month, which is a 15.6% increase in year-over-year comparisons.
Among the region's key markets, Central Mexico (4,886 rooms in 37 hotels) reported the largest number of rooms In Construction, followed by the Yucatán Peninsula, Mexico (2,387 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