There are 164 hotels totaling 27,970 rooms Under Contract in the Caribbean/Mexico region, according to the November 2015 STR Construction Pipeline Report. This represents a 4.4% decrease in rooms Under Contract compared with November 2014 and a 10.5% year-over-year decrease 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 11,994 rooms in 68 hotels under construction for the month.
Among the region’s key markets, Central Mexico (3,875 rooms) reported the largest number of rooms under construction, followed by Yucatán Peninsula, Mexico (1,611 rooms) and Northwest Mexico (1,256 rooms).