Central/South America Hotel Development Pipeline Under Construction Drops 7.7 Percent for October 2017
STR’s October 2017 Pipeline Report shows 58,909 rooms in 376 hotel projects Under Contract in the Central/South America region. The total represents an 8.0% decrease in rooms Under Contract compared with October 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 Central/South America region reported 25,910 rooms in 162 projects In Construction for the month. Based on number of rooms, that is a 7.7% decrease in year-over-year comparisons.
Three key markets reported more than 1,000 rooms In Construction:
- Bogotá, Colombia (1,608 rooms in six projects)
- Santiago, Chile (1,035 rooms in five projects)
- São Paulo, Brazil (1,007 rooms in four projects)
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