STR reports the construction of hotels in Latin America and the Caribbean

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STR reports the construction of hotels in Latin America and the Caribbean
Wed August 14, 2019

Property construction in Central / South America fell 7.1% in July, while in the Caribbean / Mexico it has risen 33.9%

 


STR hotel pipeline data for the Central / South America region showed 160 projects representing 21,937 rooms under construction as of July 2019. This represented a 7.1% decrease year-over-year in the number of rooms in the final phase of The development pipe.

Most of the rooms under construction in the region are in three segments. Of those three, medium-scale projects represented the only percentage increase (+ 29.5%) in activity year after year.

1. Medium: 5,184 rooms (+ 25.6%)
2. Superior exclusive: 4,853 rooms (-21.1%)
3. Exclusive: 4,781 rooms (-14.7%)

Four countries reported more than 1,000 rooms under construction. Brazil led with 9,192 rooms, which represented 3.4% of the country's existing offer, followed by Colombia (3,104 rooms, 4.3% of the existing offer).

1. Brazil: 9,192 rooms (3.4%)
2. Colombia: 3,104 rooms (4.3%)
3. Chile: 2,405 rooms (6.3%)
4. Peru: 1,937 rooms (6.9%)

While STR hotel pipeline data for the Caribbean / Mexico region showed 155 projects representing 31,968 rooms under construction as of July 2019. This represented a 33.9% jump year-over-year in the number of rooms in the phase end of the development pipe.

Most of the rooms under construction in the region are in three segments. Of those three, luxury projects represented the largest percentage increase (+ 72.4%) in activity year after year.

1. Luxury: 8,553 rooms (+ 72.4%)
2. Exclusive: 7,075 rooms (+ 10.0%)
3. Superior exclusive: 6,136 rooms (-4.4%)

Four countries in the region reported more than 1,000 rooms under construction. Mexico led with 17,883 rooms, which represented 4.3% of the country's existing offer, followed by the Dominican Republic (6,184 rooms, 8.6% of the existing offer).

1. Mexico: 17,883 rooms (4.3%)
2. Dominican Republic: 6,184 rooms (8.6%)
3. Jamaica: 1,925 rooms (7.5%)
4. Cuba: 1,100 rooms (1.7%)

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