STR’s October 2016 Pipeline Report shows 64,030 rooms in 408 projects Under Contract in the Central/South America region. The total represents a 4.4% decrease in rooms Under Contract compared with October 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 28,068 rooms in 173 projects In Construction for the month, which is a 7.8% decrease for rooms in year-over-year comparisons.
Two of the region’s key markets reported more than 1,000 rooms In Construction: Bogotá, Colombia (1,441 rooms in five hotels), and Rio de Janeiro, Brazil (1,220 rooms in five hotels).