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Caribbean, Mexican Beaches Hot for Resorts

At least 65,000 rooms are coming soon, though Lodging Econometrics senses a peak.

By Carl Cronan | Updated on May 31, 2008

Large luxury resorts are being developed along beaches throughout the Caribbean, Mexico and Central America, although building volume appears to be leveling off, according to Lodging Econometrics. The global lodging tracking firm has released its first-quarter report for the region, which has 311 projects totaling 65,332 rooms in the pipeline.

“It really boils down to how expensive beachfront land is getting,” Patrick Ford, president of Portsmouth, NH-based Lodging Econometrics, tells GlobeSt.com. As a result, he says, developers of luxury and upscale hotels seek to dominate their locations with hundreds of rooms for overnight guests, along with residential units.

Ford notes in his latest report that the pipeline for hotels in Lodging Econometrics’ “Carmexica” region has peaked since the third quarter of 2007, with 158 projects totaling 34,084 rooms under construction through the first quarter. Likely culprits are a more difficult environment for securing financing and the current slowdown in the US economy, he says.

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