Ana M. López
Research expert covering travel, tourism and hospitality
Hotel industry in Latin America - statistics & facts
Latin American countries are visited by growing numbers of tourists every year. For that reason, the region represents an attractive opportunity for hotel companies as this industry recovers from the impact of the coronavirus (COVID-19) pandemic. For instance, after the 70 percent drop in revenue in 2020 and the still modest recovery in 2021, the Latin American hotel industry is expected to experience a significant growth in 2022 and surpass pre-pandemic levels by 2024.
Latin America’s hotel pipeline
With demand forecast to increase in the near future due to the resumption of travel, many Latin American countries have experienced greater investment in hotel projects. Although the number of hotels under construction in Latin America decreased between the first quarter and final quarter of 2021, the number of hotel construction projects in the early planning phase increased by 35 percent during the same period. By the end of 2021, Mexico was leading the hotel construction pipeline in the region with more than double the number of rooms being developed by second-placed Brazil. Consequently, Mexico was home to three of the five Latin American cities with the most hotel rooms in development at that time. Meanwhile, U.S.-based company Marriott International was the hotel franchise with the most hotel projects in the region.Hotel franchises in the region
The presence of several of the world’s leading hotel brands in Latin America is another indication of the strength of the industry in the region. Wyndham Hotels & Resorts and Marriott International, two of the leading hotel companies worldwide based on property numbers, are just two of the prominent franchises visitors can lodge in during their stay. As of mid-2022, Wyndham Hotels & Resorts Inc.’s hotel portfolio included nearly 240 establishments in Latin America whereas their competitors Marriott International managed over 200 properties in the region.
