Caribbean and Mexico pipeline for June 2009
The Caribbean/Mexico hotel development pipeline includes 134 hotels with 17,663 rooms, according to the June 2009 STR Construction Pipeline Report released last week.
“Most of the activity right now is taking place in Mexico. It’s primarily in those mid (chain-scale) segments—Upscale, Midscale with Food and Beverage and Midscale without Food and Beverage,” said Duane Vinson, vice president of content management at STR. “We’re still seeing a little bit of the Luxury development in the Caribbean, but not as much as three or four years ago. Most investors are looking to buy distressed assets than undertake ground-up development.”
Among the Chain-Scale segments, the Midscale without Food and Beverage segment made up the largest percentage of the total active pipeline with 21.0 percent of the rooms with3,718 rooms. With 3,414 rooms, the Upper Upscale segment made up 19.3 percent of the total active pipeline. The Luxury segment also made up for more than 15 percent of the total active pipeline at 18.7 percent with 3,296 rooms. The Economy segment accounted for the smallest portion of the total active pipeline at 6.0 percent with 1,056 rooms.
Rachael Spann Urie
Phone: +1 (615) 824-8664 ext. 3305
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to thehotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.