Next is Brazil, which stands at 89 projects/14,471 rooms. Mexico leads Latin America’s construction pipeline at Q2 with 211 projects/34,509 rooms. The early planning stage of the pipeline in Latin America is the only stage with growth, up 43% by projects and 26% by rooms YOY. In Latin America, there are 254 projects/46,670 rooms presently under construction, projects scheduled to start construction in the next 12 months are at 158 projects/23,371 rooms, and projects in early planning are at 143 projects/20,455 rooms. New project announcements, in Q2 2022, are up 57% by projects YOY at 36 projects/6,208 rooms.
In the first half of 2022, 40 projects/8,481 rooms began construction in the region. Consumer confidence has risen as border restrictions and quarantine requirements across the region and air passenger traffic to Latin American countries has increased substantially compared to numbers recorded in the second quarter of 2021. PORTSMOUTH, NH - According to the recent Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), the region’s total construction pipeline has 555 projects/90,496 rooms at Q2 2022.įollowing nearly two years of uncertainty stemming from the pandemic, the hotel industry in Latin America is finally showing some signs of recovery.
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