STR’s January 2017 Pipeline Report shows 63,321 rooms in 404 hotel projects Under Contract in the Central/South America region. The total represents a 14.9% decrease in rooms Under Contract compared with January 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 28,626 rooms in 175 projects In Construction for the month. Based on number of rooms, that is an 11.7% decrease in year-over-year comparisons.
Three of the region’s key markets reported more than 1,000 rooms In Construction:
- Bogotá, Colombia (1,441 rooms in five projects)
- São Paulo, Brazil (1,205 rooms in six projects)
- Lima, Peru (1,203 rooms in seven projects)