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.
Based on STR's May 2016 Pipeline Report, over 28,368 rooms in 178 projects Under Contract in the Caribbean/Mexico region.
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
According to analysis of inquiries conducted by Caribbean luxury property specialist 7th Heaven Properties, demand for Caribbean real estate has doubled during the first six months of 2015 compared to the same period last year.
The Caribbean and Mexico hotel development pipeline comprises 164 hotels totaling 27,621 rooms.