STR: Central/South America Hotel Construction Down 5.3%
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.
LONDON — 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.
- Midscale: 5,551 rooms (+29.5%)
- Upscale: 5,229 rooms (-22.8%)
- 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).
- Brazil: 10,085 rooms (3.7%)
- Colombia: 3,743 rooms (7.1%)
- Chile: 2,196 rooms (5.8%)
- Peru: 2,106 rooms (7.6%)
- Argentina: 1,049 rooms (1.6%)
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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