HENDERSONVILLE, Tennessee—The Caribbean/Mexico hotel development pipeline comprises 128 hotels totaling 18,326 rooms, according to the January 2011 STR Construction Pipeline Report released this week.
Among the Chain Scale segments, the Upper Midscale segment accounted for the largest portion of rooms in the total active pipeline with 27.1 percent and 4,964 rooms, followed by the Upscale segment (20.5 percent with 3,765 rooms) and the Unaffiliated segment (17.8 percent with 3,253 rooms). Two of the Chain Scale segments accounted for less than 10 percent of rooms in the total active pipeline: the Upper Upscale segment (5.9 percent with 1,089 rooms) and the Economy segment (0.7 percent with 122 rooms).
“The Caribbean/Mexico pipeline has remained steady in most Chain Scales according to January 2011 year-over-year comparisons,” said Lana Yoshii, VP of content management at STR. “The Luxury segment reported 20 projects in the active pipeline during 2010, while currently they are reporting 17. There has been no movement in the Upscale segment, with 22 projects reported in both 2010 and 2011. With financing difficult to come by, many projects are delaying construction. For instance, there are six Luxury projects In Construction as compared with the same time last year when there were 10.”
Caribbean/Mexico pipeline by Chain Scale segment for January 2011 (number of rooms):
|
Chain Scale
|
Existing Supply
|
In Construction
|
Total Active Pipeline*
|
|
Luxury
|
22,711
|
1,143
|
3,140
|
|
Upper Upscale
|
31,244
|
964
|
1,089
|
|
Upscale
|
86,484
|
1,604
|
3,765
|
|
Upper Midscale
|
37,538
|
1,480
|
4,964
|
|
Midscale
|
40,757
|
956
|
1,993
|
|
Economy
|
3,753
|
122
|
122
|
|
Unaffiliated
|
308,698
|
2,381
|
3,253
|
|
Total
|
531,185
|
8,650
|
18,326
|
* Includes those projects in the In Construction, Final Planning and Planning phases.
Please note: STR has revised its chain-scale segments for 2011. The Midscale with Food and Beverage segment and the Midscale without Food and Beverage segment have been replaced with the Upper Midscale segment and the Midscale segment.
About STR:
STR provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference, which will be held 3-4 August 2011 in Nashville, Tennessee.
Media Contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
