Upper-Midscale Segment Leads Development in Central/South America
The hotel development pipeline for Central and South America includes 248 hotels with a total of 40,263 rooms, according to the August 2013 STR Global Construction Pipeline Report. Nearly one-quarter (24 percent) of those rooms are in the upper-midscale segment, according to the report. The upscale segment accounts for 21.7 percent of the rooms, followed by the midscale segment, with 18.8 percent. Just 2,511 rooms are classified as luxury, accounting for 6.2 percent of the total pipeline.