STR Reports Slight Growth in Caribbean, Mexico Hotel Pipeline

STR Reports Slight Growth in Caribbean, Mexico Hotel Pipeline

The Caribbean/Mexico hotel development pipeline comprises 134 hotels totaling 20,296 rooms, according to the April 2011 STR Construction Pipeline Report. “The Caribbean/Mexico region has 37 projects under construction that are expected to open by year-end 2011,” said Lana Yoshii, vice president of content management at STR. “These projects are expected to open 5,667 new rooms, increasing room supply by a modest 1 percent. Approximately one-third of these new rooms are in the upscale chain-scale segment.”

Year-to-date in 2011, six projects have opened in the region with 404 rooms. In the remainder of 2011, 37 projects with 5,667 rooms are expected to open. If all rooms open, there will be a 1.1 percent increase in room supply in 2011. In 2012, the region is expecting 58 projects with 8,583 rooms to open and, in 2013, 16 projects are planned to open with 2,625 rooms.

Among the Chain Scale segments, the Upscale segment has the most rooms expected to open in 2011 with eight projects and 2,028 rooms, followed by the Unaffiliated segment (9 projects with 1,349 rooms) and the Midscale segment (9 projects with 956 rooms).