STR’s August 2016 Pipeline Report shows 63,681 rooms in 407 projects Under Contract in the Central/South America region. The total represents a 5.3% decrease in rooms Under Contract compared with August 2015.
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 27,908 rooms in 172 projects In Construction for the month, which is a 9.0% decrease in year-over-year comparisons.
Among the countries in the region, Brazil reported the most rooms In Construction with 16,710 rooms in 94 hotels. Four additional countries each reported more than 1,000 rooms In Construction: Colombia (3,182 rooms in 20 hotels); Peru (1,064 rooms in nine hotels); Argentina (1,023 rooms in eight hotels); and Chile (1,016 rooms in seven hotels).