Caribbean/Mexico hotel construction up 16.8% in October

0 0
Read Time1 Minute, 41 Second

HENDERSONVILLE, TENNESSEE — STR’s hotel pipeline data for the Caribbean/Mexico region showed 151 projects accounting for 30,809 rooms in construction as of October 2019. This represented a 16.8% 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, luxury projects represented the largest percentage increase (+10.6%) in activity year over year. 

  1. Luxury: 7,270 rooms (+10.6%)
  2. Upscale: 7,221 rooms (+1.5%)
  3. Upper Upscale: 6,341 rooms (+0.8%)

Four countries in the region reported more than 1,000 rooms under construction. Mexico led with 16,303 rooms, which represented 3.9% of the country’s existing supply, followed by the Dominican Republic (5,738 rooms, 7.9% of existing supply). 

  1. Mexico: 16,303 rooms (3.9%)
  2. Dominican Republic: 5,738 rooms (7.9%)
  3. Jamaica: 1,925 rooms (7.7%)
  4. Cuba: 1,128 rooms (1.7%)
  5. ext. 3305

Central/South America hotel construction down 9.0% in October
STR’s hotel pipeline data for the Central/South America region showed 151 projects accounting for 20,368 rooms in construction as of October 2019. This represented a 9.0% year-over-year decrease 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, midscale projects represented the only percentage increase (+14.9%) in activity year over year. 

  1. Midscale: 5,175 rooms (+14.9%)
  2. Upper Upscale: 4,527 rooms (-20.0%)
  3. Upscale: 4,387 rooms (-21.2%)

Four countries reported more than 1,000 rooms under construction. Brazil led with 8,101 rooms, which represented 2.9% of the country’s existing supply, followed by Colombia (3,052 rooms, 4.2% of existing supply). 

  1. Brazil: 8,101 rooms (2.9%)
  2. Colombia: 3,052 rooms (4.2%)
  3. Chile: 2,016 rooms (5.3%)
  4. Peru: 1,688 rooms (5.9%)