There are 171 hotels totaling 29,846 rooms Under Contract in the Caribbean/Mexico region, according to the April 2015 STR Construction Pipeline Report. This represents an 11.4-percent increase in rooms Under Contract compared with April 2014 and a 1.3-percent year-over-year increase in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 11,721 rooms in 64 hotels under construction for the month.
Among the Chain Scale segments, four segments each accounted for 15.0 percent or more of rooms Under Contract: Upscale (23.1 percent with 6,901 rooms); Luxury (22.1 percent with 6,586 rooms); Upper Midscale (16.7 percent with 4,977 rooms); and Upper Upscale (15.0 percent with 4,475 rooms).
The Luxury segment accounted for the largest portion of rooms In Construction at 36.2 percent with 4,240 rooms. Two other segments each accounted for more than 15.0 percent of rooms In Construction: Upper Midscale (17.9 percent with 2,102 rooms) and Upscale (17.1 percent with 2,008 rooms).