Central/South America Hotel Development Pipeline Under Contract Down 17.7 Percent YOY for March 2017
STR’s March 2017 Pipeline Report shows 60,284 rooms in 385 hotel projects Under Contract in the Central/South America region. The total represents a 17.7% decrease in rooms Under Contract compared with March 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 27,421 rooms in 170 projects In Construction for the month. Based on number of rooms, that is a 14.6% decrease in year-over-year comparisons.
Two Chain Scale segments each accounted for 20.0% or more of the rooms Under Contract in the region: Upper Upscale (22.1% with 13,303 rooms) and Upscale (20.4% with 12,286 rooms).
Specifically in the In Construction phase, only the Upscale segment (22.5% with 6,164 rooms) accounted for 20.0% or more of the region’s total.
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