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Hotel Industry Trends |
Thursday November 20th, 2008 |
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LE Reports Caribbean, Mexico & Central America Lodging Construction Pipeline Totals at 329 Projects/65,115 Rooms at Mid-Year |
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Mexico leads the region with 46% of all projects in the Pipeline. |
Pipeline Highlights at Q2
• At the end of Q2, the Construction Pipeline project count likely reached a high for this cycle at 329 projects/65,115 rooms.
• Mexico leads the region with 46% of all projects in the Pipeline. The Caribbean follows with 38%.
• 51% of all Pipeline projects are already Under Construction and are assured to enter as New Supply in the near-term.
• Developer focus remains on high-end beachfront resort properties. There is also significant development of Midscale brands, particularly in Mexico's secondary cities.
• 27 New Hotels with 4,688 rooms have opened thus far in 2008. LE has revised its Forecast for New Openings for 2008 slightly downward to 79 New Hotels/13,985 for 2008.
To view the entire LE Lodging Construction Report for the Caribbean, Mexico & Central America, including graphics and the Forecast for New Hotel Openings, please click here.
Lodging Econometrics (LE) of Portsmouth, NH is the global authority for hotel real estate. LE conducts Supply Side research for all markets, developers and brands and companies in: U.S., Canada, Mexico, Central America and the Caribbean, Europe, Asia, Middle East, South America, and Africa.
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