![My new company offered me a car & Fuel card in my contract. Made me redundant after 5 months and never supplied me with a car. When are my rights? [closed]](https://cdn.sstatic.net/Sites/workplace/Img/apple-touch-icon@2.png?v=d39b333f5c58)
Record breaking Quarter signals strong recovery in Latin America’s hotel development
The Latin America Construction Pipeline Trend Report for Q4 2024 shows significant growth in hotel development, with Mexico and Brazil leading the surge. The article Record breaking Quarter signals strong recovery in Latin America’s hotel development first appeared in TravelDailyNews International.
PORTSMOUTH, NH – According to the Q4 2024 Latin America Construction Pipeline Trend Report by Lodging Econometrics (LE), the region’s total construction pipeline experienced robust growth, climbing to 685 projects/110,033 rooms, marking significant increases of 15% by projects and 13% by rooms year-over-year (YOY).
At Q4, projects under construction stand at 270 projects/48,138 rooms, up 13% by both projects and rooms YOY. Projects scheduled to start construction in the next 12 months reached 179 projects/28,942 rooms, showing increases of 4% by projects and 5% by rooms YOY. Projects in early planning demonstrated substantial growth with 236 projects/32,953 rooms, up 28% by projects and 20% by rooms YOY. New project announcements into the pipeline during Q4 saw a notable increase of 44% by projects and 32% by rooms YOY, with 82 projects/12,295 rooms.
The luxury segment achieved record-high numbers in Q4, with 129 projects/26,077 rooms. Upper upscale projects also reached a record high with 115 projects/22,509 rooms, while upscale projects stand at 136 projects/19,220 rooms. Together, these top three chain scales account for 56% of the projects and 54% of the rooms in the region’s total pipeline.
Mexico leads the countries in Latin America’s hotel construction pipeline with a record-high 248 projects/38,104 rooms, up 10% by projects and 7% by rooms YOY. Brazil follows with 106 projects/14,799 rooms, up 23% by projects and 9% by rooms YOY. The Dominican Republic achieved record highs with 66 projects/16,908 rooms, showing substantial increases of 38% by projects and 31% by rooms YOY. Colombia follows with 30 projects/3,971 rooms, and Peru with 28 projects/3,753 rooms.
Cities with the largest pipelines include Mexico City, Mexico, with 24 projects/2,927 rooms; Lima, Peru, with 14 projects/2,194 rooms; Riviera Maya, Mexico, with 14 projects/1,589 rooms; Georgetown, Guyana, with 12 projects/1,662 rooms; and Medellin, Colombia, with 11 projects/1,439 rooms.
In Q4 2024, 25 new hotels/4,470 rooms opened in Latin America, bringing the year-to-date total to 73 new hotels/13,754 rooms. Looking ahead, LE analysts forecast 106 new hotels/17,615 rooms to open in 2025, followed by 133 new hotels/20,422 rooms in 2026.
The article Record breaking Quarter signals strong recovery in Latin America’s hotel development first appeared in TravelDailyNews International.
