Hotel development soars in Caribbean/Mexico region – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Hotel development soars in Caribbean/Mexico region

Caribbean Journal is reporting that there are 129 hotels and 22,240 hotel rooms in the Caribbean/Mexico hotel development pipeline, according to new data from STR.

STR and STR Global are trackers of supply and demand data for the hotel industry, and their website states they number “all major international hotel chains and brands” among their clients.

It continues: “The total active pipeline includes properties at all stages of development except for those in the preplanning stages.”

STR say that for the that for the year, 13 hotels totaling 1,784 rooms have opened in the Caribbean/Mexico region.

The luxury segment will see 1,770 rooms in four hotels debut, STR say.

The “upscale” segment is projected to see eight hotels and 1,355 rooms open.

Next year, another 52 hotels and 8,891 rooms are projected to open.

STR's data covered the period through August 2013.

Minister Shawn Crockwell stated at the beginning of June, when announcing Bermuda figures: “While air arrivals were down slightly in the first quarter, I am happy to report that the length of stay increased. The average visitor stayed in Bermuda for 6.36 nights, up from 5.92 nights. Visitors staying in commercial properties were also up from 4.73 nights to 4.86 nights in the first quarter. The increase in length of stay in our hotels resulted in a seven percent rise in beds occupied for the period, which in turn leads to higher occupancy rates.”

He summarised: “May 2013 rooms on the books were up seven percent or 2,533 room nights versus 2012. Total rooms on the books year-to-date for 2013 are down four percent versus 2012.

“Total rooms on the books for the next six months are up by eight percent versus. the same time last year.

“Over the next six months all months are pacing up except for November which is down 15 percent or 882 room nights versus 2012.

“June, July and August are pacing up five percent, 13 percent and five percent respectively. September is now pacing up six percent versus 2012 after pacing behind last month. October is up 19 percent from last year which is mainly attributable to groups, which account for 64 percent of rooms on the books for that month.

“Bookings made within the past 31 days, for the next 6 months, have increased 14 percent compared to bookings made in May 2012.”

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Published September 19, 2013 at 9:00 am (Updated September 18, 2013 at 8:01 pm)

Hotel development soars in Caribbean/Mexico region

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