Among the countries in the region, Brazil reported the most rooms In Construction with 18,497 rooms in 101 hotels. Four additional countries each reported more than 1,000 rooms In Construction: Colombia (3,268 rooms in 21 hotels); Peru (1,064 rooms in nine hotels); Argentina (1,023 rooms in eight hotels); and Panama (1,017 rooms in six hotels).
Hilton Worldwide (NYSE: HLT) yesterday announced the signing of a franchise license agreement with Free Way Group to build Hampton by Hilton Bariloche, marking the entry of the global mid-priced brand into Argentina.
STRs June 2016 Pipeline Report shows 66,352 rooms in 417 projects Under Contract in the Central/South America region. The total represents a 3.3% decrease in rooms Under Contract compared with June 2015 and a 5.1% year-over-year decrease in rooms In Construction.
Total Revenue for 2Q16 reached Ps. 271.9 million, 24.4% higher compared to 2Q15, driven by the following increases: 24.8% in Room Revenue, 20.1% in Food and Beverages, 14.5% in Other Hotel Revenue and 62.7% in management fees related to third-party owned hotels.
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