Caribbean-Mexico hotel construction pipeline approaches 30,000 rooms

There are now 171 hotels and 29,846 rooms in the Caribbean-Mexico hotel pipeline, according to the most recent STR Construction Pipeline Report.

At the end of April, there were 29,846 rooms “under contract,” a 11.4-percent increase in rooms under contract compared with the same month last year.

'Under contract' includes hotel projects in the 'in construction,' 'final planning' and 'planning' stages.

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Overall, the highest number of rooms under contract were in the “upscale” segment (6,901 rooms) with the next-highest number in the luxury segment with 6,586 rooms.

The luxury segment represented the largest total of rooms under construction, with 4,240 rooms

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DTZ Investors has purchased the property along with other real estate for more than £70 million.

The company will sell an approximately 5 percent stake in the Shanghai-based hotel operator and franchisor for a nine-figure sum. 

Over the span of a few weeks, four hotels—three Marriott brands and a Cambria Hotel—have opened in the Phoenix area.