LatAm hotel construction pipeline to see stable growth till 2026
🏨 Latin America's hotel construction pipeline shows an 11% YOY increase in projects and a 10% increase in rooms, totaling 612 projects (97,597 rooms). Under construction: 253 projects (44,319 rooms), up 11% in projects and 15% in rooms YOY. Next 12 months: 187 projects (29,476 rooms), a YOY increase of 18% in projects and 17% in rooms. Early planning: 172 projects (23,802 rooms), up 3% YOY. Key segments: upscale (133 projects/18,807 rooms), upper upscale (101 projects/20,234 rooms), luxury (96 projects/17,154 rooms). Renovations and conversions at an all-time high: 186 projects (29,500 rooms), 30% more projects YOY. Mexico leads with 226 projects (33,599 rooms), followed by Brazil, the Dominican Republic, and Colombia. Top cities: Mexico City, Georgetown, Sao Paulo, Lima, and Riviera Maya. New announcements in Q2: 62 projects (8,740 rooms). 2023 expected openings: 100 hotels (17,555 rooms), with 40 already opened and 60 more planned. 2025 projected openings: 111 hotels (18,816 rooms), and in 2026, 131 hotels (18,293 rooms).
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