STR’s hotel pipeline data for the Central/South America region showed 160 projects accounting for 21,937 rooms in construction as of July 2019. This represented a 7.1% year-over-year decrease in the number of rooms in the final phase of the development pipeline.
A majority of the region’s rooms in construction are in three segments. Of those three, midscale projects represented the only percentage increase (+29.5%) in activity year over year.
1. Midscale: 5,184 rooms (+25.6%)
2. Upper Upscale: 4,853 rooms (-21.1%)
3. Upscale: 4,781 rooms (-14.7%)
Four countries reported more than 1,000 rooms under construction. Brazil led with 9,192 rooms, which represented 3.4% of the country’s existing supply, followed by Colombia (3,104 rooms, 4.3% of existing supply).
1. Brazil: 9,192 rooms (3.4%)
2. Colombia: 3,104 rooms (4.3%)
3. Chile: 2,405 rooms (6.3%)
4. Peru: 1,937 rooms (6.9%)
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Logos, product and company names mentioned are the property of their respective owners.