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São Paulo São Paulo

Less Hotels Under Construction in Central and South America

According to STR’s July 2017 Pipeline Report, the Central and South America region reported 27,333 rooms in 169 hotel projects in construction during the month, a 2.1 percent drop in the number of keys over July 2016.

Moreover, the number of rooms under contract dropped to 60,151 units in 384 developments, down 7.8 percent year-on-year.

Two key markets in the region noted more than 1,000 rooms in the construction phase.

Bogota in Colombia registered 1,752 keys in seven properties, while Brazil’s São Paulo recorded 1,202 rooms in five addresses.