There are 427 hotels totalling 67,266 rooms Under Contract in the Central/South America region, according to the August 2015 STR Global Construction Pipeline Report. This represents a 4.7% decrease in rooms Under Contract compared with August 2014 and a 12.8% year-over-year increase in rooms under construction. The 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 30,501 rooms in 186 hotels under construction for the month.
Among the region’s key markets, Rio de Janeiro, Brazil, reported the largest number of rooms under construction with 4,501 rooms. São Paulo, Brazil (1,370 rooms), and Panama City, Panama (1,076 rooms), were the only other markets to end the month with more than 1,000 rooms under construction.