STR’s June 2017 Pipeline Report found that 41,101 guestrooms in 236 hotel projects are underway in the Caribbean/Mexico region—a 43.8-percent increase in rooms underway compared to June 2016.
The Caribbean/Mexico region reported 13,829 guestrooms in 86 projects under construction for the month. Based on number of guestrooms, that is a 15.4-percent increase in year-over-year comparisons.
What's in the Pipeline
Among chain scale sectors, the upscale sector accounted for the largest portion of rooms underway at 24.9 percent with 10,229 guestrooms and under construction at 25.2 percent with 3,485 guestrooms.
These projects include Fairmont Hotels & Resorts' new hotel in Saint Lucia and four new hotels opening in Mexico in Marriott International's pipeline. Opening in late 2019, the 120-guestroom and 40-residential villa Fairmont Saint Lucia at Sunset Bay will be designed by WATG and Wimberly Interiors as part of a joint venture with Bulgarian company GP Group.
Marriott's new Mexican hotels will operate under full-service brands Westin Hotels & Resorts and Renaissance Hotels and select-service brands Aloft and AC Hotels. The 142-guestroom Westin Puebla will open in the second half of 2018 while two other Westin hotels currently under construction in Cozumel and Monterrey will open in 2017 and 2018, respectively.
Marriott will debut its Renaissance Hotels brand in Mexico at its new 180-guestroom property in Puerto Cancun. Within the select-service sector, 100-guestroom Aloft Puebla is set to open in 2018. The 168-guestroom AC Hotel by Marriott Monterrey will be included in the Distrito Armida mixed-use project in Valle Oriente. Marriott has added 38 more projects to its Caribbean and Latin America development pipeline, which will be operating by 2022.
Under contract data includes projects in the in construction, final planning and planning stages, but it does not include projects in the unconfirmed stage.