There are 167 hotels totaling 29,113 rooms Under Contract in the Caribbean/Mexico region, according to the July 2015 STR Construction Pipeline Report. This represents a 3.5% increase in rooms Under Contract compared with July 2014 and a 4.5% 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 13,373 rooms in 70 hotels under construction for the month.
Among the Chain Scale segments, four segments each accounted for 15.0% or more of rooms Under Contract: Upscale (24.1% with 7,018 rooms); Luxury (20.2% with 5,889 rooms); Upper Midscale (17.1% with 4,990 rooms); and Upper Upscale (16.1% with 4,675 rooms).
The Luxury segment accounted for the largest portion of rooms In Construction at 33.5% (4,478 rooms). Three other segments each accounted for more than 15.0% of rooms In Construction: Upscale (19.1% with 2,552 rooms); Upper Midscale (16.6% with 2,220 rooms) and Unaffiliated (16.3% with 2,178 rooms).