There are 427 hotels totalling 67,530 rooms Under Contract in the Central/South America region, according to the November 2015 STR Global Construction Pipeline Report. This represents a 4.7% decrease in rooms Under Contract compared with November 2014 but a 20.7% 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 31,391 rooms in 190 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 3,800 rooms. São Paulo, Brazil (1,561 rooms), and Panama City, Panama (1,076 rooms), were the only other markets to each end the month with more than 1,000 rooms under construction.