STR: Caribbean/Mexico hotel pipeline for March 2017

STR’s March 2017 Pipeline Report shows 38,668 rooms in 212 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 25.9% increase in rooms Under Contract compared with March 2016. 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 15,086 rooms in 82 projects In Construction for the month. Based on number of rooms, that is a 12.6% increase in year-over-year comparisons. Among Chain Scale segments, the Upscale segment accounted for the largest portion of rooms Under Contract (23.8% with 9,191 rooms). The Luxury segment accounted for the largest percentage of rooms In Construction (23.1% with 3,485 rooms).