Five hottest development markets in Latin America

NATIONAL REPORT — Mexico leads Latin America with the most projects in the hotel development pipeline, according to data from Lodging Econometrics.

At the end of the second quarter, Mexico stood at 278 projects with 44,018 rooms. As a result, the top four on Lodging Econometrics’ list were markets in Mexico.

Those four Mexican cities account for 23% of the nearly 400 projects under development in the second quarter in Latin America and 26% of the total rooms.

Mexico City is the top market in Latin America for the second quarter, with 27 total projects and 3,107 rooms. Of those 27 projects, 23 were classified as new construction, and four were renovations or conversions.

Cancun was second with 25 projects and a whopping 10,010 rooms. Seventeen of those projects were new construction.

Guadalajara was third with 23 projects and 2,927 rooms. All but one of those projects were new construction.

Riviera Maya in Mexico was fourth, with 16 projects and 2,276 rooms. Fourteen of the projects were new construction.

Coming in fifth was Punta Cana in the Dominican Republic, with 15 projects and 5,182 rooms in its pipeline.

Here’s a more detailed look at the top five Latin America markets

 

PREVIOUS REPORTS

In September, we told you about the hottest development markets in the U.S., with a red hot market in Texas leading the way.