LONDON—The Central/South America hotel development pipeline comprises 146 hotels totalling 22,325 rooms, according to the December 2010 STR Global Construction Pipeline Report released this week.
“Panama City will see more than half of its current room supply being added to the market during the next three years,” said Elizabeth Randall, managing director of STR Global. “It represents the biggest increase compared to the existing supply of all the major markets in Central and South America. The economic strength and outlook for the market has continued to attract development”.
Among the top markets in the region, Panama City, Panama, reported the largest expected growth (56.7 percent) if all 4,734 rooms in the total active pipeline open. Other countries to report significant expected growth include: Lima, Peru (15.5 percent expected growth with 789 rooms in the total active pipeline); San Jose, Costa Rica (11.7 percent with 676 rooms); Bogota, Colombia (11.2 percent with 813 rooms); and Santiago, Chile (6.8 percent with 542 rooms).
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
VP, Digital Media & Communications
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
+1 (615) 824-8664 ext. 3305
Director of Marketing & Analysis
+44 (0)207 922 1961