Central/South America Hotel Development Pipeline Under Construction Drops 5.5 Percent for September 2017
The Central/South America region reported an 8.4% year-over-year decrease in rooms under contract, according to STR data.
Although the Central/South America region reported occupancy increased 0.6% to 58% in August, ADR and RevPAR plummeted, with ADR falling 25% to $99.09 and RevPAR dropping 24.5% to $57.48.
In August, the Central/South America region reported 27,532 rooms in 171 hotel projects in construction, according to STR. The number of rooms is a 0.9% year-over-year decrease when compared to August 2016.
In July, hotels in Central and South America reported mostly positive year-over-year performance. Occupancy rose 3.2% to 58.1%, ADR was mostly flat (+0.2% to $97.86) and RevPAR increased 3.5% to $56.83.
During the second quarter of 2017, Mexico's hotel industry reported occupancy rose 3.1% to 65.7%. ADR increased 7.3% to 2,253.96 Mexican pesos ($127.13) and RevPAR rose 10.7% 1,481.25 Mexican pesos ($83.55).
Hotels in Central and South America reported occupancy rose 1% to 54.2% year over year in the second quarter of 2017. ADR was mostly flat (-0.3% to $97.39), but RevPAR increased 0.7% to $52.75.
The Central/South America region reported 28,103 rooms in 175 hotel projects in construction in June, according to STR. The rooms total is a 2% decrease when compared to the same month in 2016.