The WPJ
Vacation Real Estate News
Caribbean, Mexico Hotel Development Pipeline Upticks in 2017
According to STR's January 2017 Pipeline Report, more than 33,830 rooms in 199 hotel projects are under contract in the Caribbean and Mexico. The total represents a 4.4% increase in rooms under contract compared with January 2016.
Under contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the unconfirmed stage.
These two regions reported 12,818 rooms in 81 projects In Construction for the month. Based on number of rooms, that is a 9.4% decrease in year-over-year comparisons.
Among these region's key markets, Central Mexico (4,741 rooms in 36 projects) reported the largest number of rooms In Construction.
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