The Caribbean/Mexico hotel development pipeline comprises 160 hotels totaling 26,795 rooms, according to the April 2014 STR Construction Pipeline Report. This represents a 21.7-percent increase in rooms under contract, compared with April 2013, and a 14.8-percent increase in rooms under construction. The total rooms under contract include rooms in the In Construction, Final Planning and Planning stages but do not include rooms in the Unconfirmed stage.
In the remainder of 2014, 43 hotels are planned to open with 7,441 rooms. The Unaffiliated segment plans to open the most rooms (6 hotels with 2,214 rooms), followed by the Luxury segment (8 hotels with 1,871 rooms) and the Upper Midscale segment (15 hotels with 1,725 rooms).
In 2015, 53 hotels are planned to open in the region with 10,218 rooms. The most rooms planned to open are in the Luxury segment (8 hotels with 2,804 rooms), followed by the Upscale segment (16 hotels with 2,103 rooms) and the Upper Upscale segment (5 hotels with 1,931 rooms).
Please note: STR recently revised the pipeline definitions. What was formerly referred to as the Total Active Pipeline is now referred to as Under Contract. The Pre-Planning phase also has been renamed to the Unconfirmed phase.
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