There are 439 hotels totalling 69,820 rooms Under Contract in the Central/South America region, according to the March 2015 STR Global Construction Pipeline Report. This represents a 9.5-percent year-over-year increase in rooms Under Contract compared with March 2014 and a 19.9-percent 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 29,187 rooms in 176 hotels under construction for the month.
Among the countries in the region, Brazil reported the most rooms under construction with 17,342 in 98 hotels. Four other countries reported more than 1,000 rooms under construction: Colombia (3,615 rooms in 22 hotels); Argentina (1,237 rooms in nine hotels); Chile (1,188 rooms in eight hotels); and Panama (1,077 rooms in seven hotels).