Mexico Caribbean hotel development pipeline busy

The development pipeline for hotels in Mexico and the Caribbean is nearing 30,000 rooms, according to hotel analytics firm STR.

Through September, 170 hotels totaling 29,572 rooms were under development.

Those figures represent a 23.5% increase in rooms under contract and a 31% increase in rooms in construction, compared with the same period in 2013.

The upscale segment accounted for 7,213 rooms, the largest number of rooms in the report, according to STR.

The luxury segment was next with 6,189 rooms or 20.9% of the total pipeline.