The Caribbean/Mexico hotel development pipeline comprises 163 hotels totaling 28,630 rooms, according to the May 2014 STR Construction Pipeline Report. This represents a 22.1-percent increase in rooms under contract, compared with May 2013, and a 21.5-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.
Among the Chain Scale segments, the Luxury segment accounted for the largest portion of rooms under contract (23.4 percent) with 6,703 rooms. Three other segments each made up more than 15 percent of rooms under contract: the Unaffiliated segment (19.5 percent with 5,583 rooms); the Upscale segment (19.4 percent with 5,557 rooms); and the Upper Midscale segment (17.9 percent with 5,136 rooms). The Economy segment reported no rooms under contract in May.
Please note: STR recently revised the pipeline definitions. What was formerly known 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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