STR Global reports Central and South America pipeline for August 2009

The Central/South America hotel development pipeline includes 145 projects with 21,750 rooms, according to the August 2009 STR Global Construction Pipeline Report released this week.

“Nearly half of all hotel development under way in the region is taking place in Brazil,” said Duane Vinson, vice president at STR. “With almost 4,000 rooms currently in the In Construction phase and another 6,000 in waiting, there is no reason to doubt that the current levels will be sustained for the foreseeable future. Panama is very active in Central America, with seven hotels in the In Construction phase and six other projects to begin soon.”

Among the key marketes, Panama City, Panama, ended the month with the largest amount of rooms in the In Construction phase with 1,318 rooms. Three additional markets reported more than 500 rooms in the In Construction phase for the month: Buenos Aires, Argentina (951); Sao Paulo, Brazil (854 rooms); and Bogota, Columbia (841 rooms).

Among the Chain-Scales, three segments accounted for close to 70 percent of the total active pipeline: The Economy segment reported 5,481 guestrooms (25.2 percent); the Upper Upscale pipeline comprised 4,869 rooms (22.4 percent); and the Upscale segment made up 22.2 percent with 4,837 rooms.