Increase in Central and South America hotel development
There are 438 hotels totalling 68,618 rooms under contract in the Central/South America region, according to the June 2015 STR Global Construction Pipeline Report. This represents a 4.8% increase in rooms under contract compared with June 2014 and a 24.9% year-over-year increase in rooms under construction.
The 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 30,217 rooms in 189 hotels under construction for the month of June. Among the countries in the region, Brazil reported the most rooms under construction with 18,572 in 107 hotels.