Hotel Construction Pipeline Caribbean/Mexico

Caribbean/Mexico Hotel Construction Up 30.7% for April 2019

The number of hotels in construction in the Caribbean and Mexico region is up 30.7% year over year through April with a total of 131 hotels comprising 29,187 rooms.

STR

STR’s pipeline data for the Caribbean/Mexico region showed 131 hotel projects accounting for 29,187 rooms in construction as of April 2019. This represented a 30.7% year-over-year jump in the number of rooms in the final phase of the development pipeline.

A majority of the region’s rooms in construction are in three segments. Of those three, upper upscale projects represented the largest percentage increase (+37.0%) in activity year over year.

1. Upper Upscale: 6,566 rooms (+37.0%)
2. Luxury: 6,215 rooms (+33.9%)
3. Upscale: 5,886 rooms (-1.5%)

Four countries in the region reported more than 1,000 rooms under construction. Mexico led with 15,731 rooms, which represented 3.9% of the country’s existing supply, followed by Dominican Republic (6,216 rooms, 8.9% of existing supply).

1. Mexico: 15,731 rooms (3.9%)
2. Dominican Republic: 6,216 rooms (8.9%)
3. Jamaica: 2,144 rooms (8.4%)
4. Cuba: 1,327 rooms (2.1%)

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.



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