STR’s April 2016 Pipeline Report shows 68,354 rooms in 429 projects Under Contract in the Central/South America region. The total represents a 1.7% decrease in rooms Under Contract compared with April 2015 but a 4.4% year-over-year increase in rooms In Construction.
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 31,129 rooms in 187 projects In Construction for the month.
Among the region’s key markets, Rio de Janeiro, Brazil (2,349 rooms in 12 hotels), reported the largest number of rooms In Construction. Two other markets ended the month with more than 1,000 rooms In Construction: Sao Paulo, Brazil (1,162 rooms in five hotels), and Bogotá, Colombia (1,031 rooms in four hotels).