LONDON—The Central/South America hotel development pipeline comprises 146 hotels totalling 22,438 rooms, according to the January 2011 STR Global Construction Pipeline Report released this week.
“It is interesting to see that hotel development across Central/South America focuses on upscale and midscale properties, whereas in other developing tourism markets the higher-end brands enter key markets first”, said Elizabeth Randall, managing director of STR Global. “The different characteristics of the economic and hotel market environments between the Central/South America region and, for example, Asia/Pacific reflect the different development strategies”.
Two properties totalling 277 rooms opened in the region during January. Overall in 2011, there are 68 more properties expected to open with 10,787 total rooms, which would amount to a 48.1-percent increase in room supply in 2011. In 2012, the region is expecting 60 projects to open with 8,754, and in 2013, eight projects are expected to open with 1,752 rooms.
The Upscale segment is expecting the largest number of properties and rooms to open in 2011 with 22 properties and 3,111 rooms, followed by the Upper Midscale segment (19 properties in with 2,765 rooms) and the Midscale segment (16 properties with 2,270 rooms).
Please note: STR has revised its chain-scale segments for 2011. The Midscale with Food and Beverage segment and the Midscale without Food and Beverage segment have been replaced with the Upper Midscale segment and the Midscale segment.
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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.
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