Unfortunately, 2016 was a disappointment. Revenue and profits increased, but not at the levels that were budgeted. Occupancy and average daily rate (ADR) growth fell short of expectations, which led to a revenue shortfall. While the lower occupancy levels resulted in less expense growth, it was not enough to offset the limited revenue growth. Therefore, the goals for increases in profits were not met.
The Central/South America region reported an 8.4% year-over-year decrease in rooms under contract, according to STR data.
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According to STR's pipeline report, the U.S. reported a 5.7% year-over-year increase in rooms in construction during September 2017.