Caribbean and Mexico Hotel Construction Rises

According to the August 2014 STR Construction Pipeline Report, 164 hotels with a combined 27,621 rooms are planned for the Caribbean and Mexico.

In comparison to August 2013, this represents a 17.7% increase in the number of rooms under contract and a 21.9 increase in the number of rooms being built. Rooms in the Construction, Final Planning, and Planning stages are included in the total number of rooms under contract, but not those in the Unconfirmed stage.

Year-to-date In the region, 96 hotels with 14,848 rooms opened as of August 2014. There will likely be an additional 28 hotels with 4,973 rooms opening up in the rest of 2014. Unaffiliated (1,971 rooms in five hotels) and Upper Midscale (1,031 rooms in nine hotels) segments are expected to add the most rooms, respectively, followed by the Luxury segment (935 rooms in three hotels).

58 hotels with 10,848 rooms are anticipated to open in 2015. The luxury segment anticipates adding 2,838 rooms across 10 hotels, the most room additions of any segment. The Upper Midscale segment (2,287 rooms in 17 hotels), the Unaffiliated segment (2,181 rooms in six hotels), and the Upscale segment are the other three segments anticipated to add more than 2,000 rooms in 2015.