Despite recent RevPAR declines in cities that are seeing a large influx of supply, developers and hotel management companies remain gung-ho about expanding in Latin America.In the first quarter of 2012, Panama City saw a 16.1% year-on-year supply increase and 11.1% RevPAR decline, and Bogota, Colombia, faced a 10.9% supply increase and 16.2% RevPAR decline, according to STR. However, the limited branded supply and growing economies in those markets and in Brazil, Chile, Argentina, Peru and Mexico have hotel companies and developers convinced there's room for more supply geared toward business travelers.
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