Latin America Hotel Development Pipeline Dips in June
According to STR's June 2016 Pipeline Report for Central and South America
, over 66,352 hotel rooms in 417 projects Under Contract in the Central/South America region. The total represents a 3.3% decrease in rooms Under Contract compared with June 2015 and a 5.1% year-over-year decrease in rooms In Construction.
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 28,680 rooms in 176 projects In Construction for the month.
Three Chain Scale segments accounted for 20.0% or more of the rooms Under Contract in the region: Upper Midscale (21.5% with 14,246 rooms); Midscale (20.4% with 13,561 rooms); and Upscale (20.1% with 13,318 rooms).
Specifically in the In Construction phase, only the upscale segment (21.0% with 6,024 rooms) accounted for 20.0% or more of the region's total.