Latin America's Construction Report and Forecast for New Openings
- The Total Construction Pipeline for Latin America at the end of Q3 2008 (including the Caribbean, Mexico, Central and South America), is 640 projects/113,505 rooms.
- In Latin America, 59% of Total Pipeline projects are already Under Construction. These projects secured financing before the global credit crisis impacted lending and the economic slowdown began to affect developer sentiment. These projects will come online as New Supply at an accelerated pace through 2010.
- Brazil accounts for 32% of the Total Pipeline with 204 projects/36,065 rooms, followed by Mexico with 145 projects/26,568 rooms and Argentina with 49 projects/6,237 rooms. Puerto Rico, Dominican Republic and Costa Rica follow.
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