STR’s July 2016 Pipeline Report shows 65,224 rooms in 412 projects Under Contract in the Central/South America region. The total represents a 4.0% decrease in rooms Under Contract compared with July 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, an 8.9% decrease in year-over-year comparisons.
Among the region’s key markets, Rio de Janeiro, Brazil (1,670 rooms in seven hotels), reported the largest number of rooms In Construction. Two other markets reported more than 1,000 rooms In Construction: Sao Paulo, Brazil (1,303 rooms in six hotels), and Bogotá, Colombia (1,031 rooms in four hotels).