Hotel Developers Returning to Mexico & Caribbean Francys Vallecillo - World Property Channel
go to original July 21, 2013

As investor interest returns to the Caribbean and Mexico, the region's total active hotel pipeline has more than doubled in the last six months, according to STR Global.

The research firm's active pipeline for June includes 131 hotels totaling 21,957 rooms, compared to only 50 hotels with 9,495 rooms in the region's active pipeline last December.

Only five hotels with 354 rooms opened in the region in 2012, STR reports.

"Banks are slowing coming back to feeling comfortable to lending on hotels," Jan Freitag, senior vice president, strategic development for STR, told WPC News. "There a lot of people trying to create projects but what they are needing is the money."

The region's total active pipeline includes projects in the construction, final planning and planning stages. More than 10,000 hotel rooms are currently under construction, led by 4,025 rooms under construction in Mexico, STR reports.

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