The Caribbean/Mexico hotel development pipeline comprises 128 hotels totaling 18,802 rooms, according to the December 2010 STR Pipeline Report released this week.
“The Caribbean/Mexico pipeline activity has picked up since the same period last year,” said Lana Yoshii, VP of Content Management at STR. “We reported at the start of 2010 there would be 5,423 rooms that would open in 2010; however, in actuality, 3,800 rooms opened during the year. In this reporting cycle, we are projecting 7,590 rooms opening in 2011 and expect many of these rooms to open during the year as 70 percent of these rooms are currently under construction.”
In 2010, 32 projects in the region opened with 3,791 rooms. In 2011, there are 58 projects expected to open with 7,590 rooms. The Midscale without Food and Beverage segment is expected to open the largest number of projects and rooms with 22 projects and 2,389 rooms. In 2012, there are 50 projects expected to open in the region with 7,815 rooms.
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