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STR: Central/South America hotel construction down 7.1% in July

August 16, 2019 Hotel Trends No Comments Email Email

STR’s hotel pipeline data for the Central/South America region showed 160 projects accounting for 21,937 rooms in construction as of July 2019. This represented a 7.1% year-over-year decrease in the number of rooms in the final phase of the development pipeline.

A majority of the region’s rooms in construction are in three segments. Of those three, midscale projects represented the only percentage increase (+29.5%) in activity year over year.

1.    Midscale: 5,184 rooms (+25.6%)
2.    Upper Upscale: 4,853 rooms (-21.1%)
3.    Upscale: 4,781 rooms (-14.7%)

Four countries reported more than 1,000 rooms under construction. Brazil led with 9,192 rooms, which represented 3.4% of the country’s existing supply, followed by Colombia (3,104 rooms, 4.3% of existing supply).

1.    Brazil: 9,192 rooms (3.4%)
2.    Colombia: 3,104 rooms (4.3%)
3.    Chile: 2,405 rooms (6.3%)
4.    Peru: 1,937 rooms (6.9%)

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