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STR: Caribbean/Mexico hotel construction up 30.7% in April

May 17, 2019 Hotel Trends No Comments Email Email

STR’s pipeline data for the Caribbean/Mexico region showed 131 hotel projects accounting for 29,187 rooms in construction as of April 2019. http://www.stevecafeandcuisine.com/This represented a 30.7% year-over-year jump in the number of rooms in the final phase of the development pipeline.

A majority of the region’s rooms in construction are in three segments. Of those three, upper upscale projects represented the largest percentage increase (+37.0%) in activity year over year.

1.    Upper Upscale: 6,566 rooms (+37.0%)
2.    Luxury: 6,215 rooms (+33.9%)
3.    Upscale: 5,886 rooms (-1.5%)

Four countries in the region reported more than 1,000 rooms under construction. Mexico led with 15,731 rooms, which represented 3.9% of the country’s existing supply, followed by Dominican Republic (6,216 rooms, 8.9% of existing supply).

1.    Mexico: 15,731 rooms (3.9%)
2.    Dominican Republic: 6,216 rooms (8.9%)
3.    Jamaica: 2,144 rooms (8.4%)
4.    Cuba: 1,327 rooms (2.1%)

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