STR hotel projects up in Caribbean and Mexcio

A total of 131 hotel projects accounting for 29,187 rooms were reported in construction as of April in the Caribbean and Mexico, according to STR.
The number represents a 30.7% Q1 jump year-over-year in rooms in the final phase of the hotel development pipeline.
Three segments accounted for a majority of the rooms under construction. The Upper Upscale segment posted a 37% jump, to 6,566 rooms. Luxury, the second highest segment, accounted for 6,215 rooms under construction, up 33.9%. Upscale, with 5,886 rooms, decreased 1.5%.
Four countries each reported more than 1,000 rooms under construction. In the Caribbean, the Dominican Republic led, with 6,216 rooms, representing 8.9% of the country’s existing supply, followed by Jamaica at 2,144 rooms, 8.4% of supply; and Cuba with 1,327 rooms, 2.1% of supply.
Mexico was the biggest, with 15,731 rooms under construction, representing 3.9% of the country’s existing supply.

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