Central/South America Hotel Construction Down 5.3% for April 2019

Construction Workers - Photo by Etienne Girardet on Unsplash
Central/South America Hotel Construction Down 5.3% for April 2019

With 168 hotels comprising 23,324 rooms in construction through April, Central and South America's number of rooms in construction is down 5.3% year over year.

STR’s pipeline data for the Central/South America region showed 168 hotel projects accounting for 23,324 rooms in construction as of April 2019. This represented a 5.3% year-over-year decline 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: 5,551 rooms (+29.5%)
2. Upscale: 5,229 rooms (-22.8%)
3. Upper Upscale: 4,842 rooms (-21.7%)

Five countries reported more than 1,000 rooms under construction. Brazil led with 10,085 rooms, which represented 3.7% of the country’s existing supply, followed by Colombia (3,743 rooms, 7.1% of existing supply).

1. Brazil: 10,085 rooms (3.7%)
2. Colombia: 3,743 rooms (7.1%)
3. Chile: 2,196 rooms (5.8%)
4. Peru: 2,106 rooms (7.6%)
5. Argentina: 1,049 rooms (1.6%)

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.