The Caribbean-Mexico region is seeing a big jump in hotel construction, according to the latest report from STR.
The regional hotel pipeline saw an 18.5 percent increase in rooms under contract and an 18.7 percent increase in rooms in construction in October, compared to the same month in 2015.
That represented a total of 32,678 rooms under contract, along with 13,962 rooms in construction, according to the report.
STR’s data covers projects in the in construction, final planning and planning stages.
The upscale segment accounted for the largest portion of rooms under contact in the “chain scale” segment, with a total of 7,678 rooms.
The luxury segment accounted for the largest percentage of rooms in construction, with 24.2 percent or 3,374 rooms.