Latin America Hotel Construction Surges, Pipeline Expands over 10% Annually
Lodging Econometrics' (LE) Q3 2024 Latin America Construction Pipeline Trend report signals development for the area's hospitality market. The pipeline presently stands at 642 jobs and 104,513 spaces, representing robust year-over-year (YoY) boosts of 11% in task count and 10% in space count.
Digging much deeper into the pipeline information, LE's report highlights a number of favorable indications. At the close of Q3 2024, Latin America had 269 jobs with 47,151 spaces under building, showing a 10% YoY increase in both metrics. Furthermore, the variety of tasks set up to begin building and construction within the next 12 months grew to 183 tasks and 30,184 spaces, up 7% by task count and 9% by space count YoY. Even the early preparation pipeline broadened, increasing 17% YoY to 190 jobs an...