$115 million invested in Panama hotel sector
The high demand by visitors to the capital city has caused more and new hotels to be built and for the number of rooms available to be expanded.
Tuesday, December 23, 2008
Hotels under construction include the Riu, the Megapolys, the Los Faros and the Le Méridien, which should start to function between 2009 and 2011.
Growing level of occupancy have injected dynamism to the Panama hotel sector
Despite an increase of 3.4% in 2008, hotels were unable to meet the demand for tourist accommodations.
Lack of international promotion is the cause indicated by entrepreneurs of the fall in the average rate in the capital, which has dropped by 40% in the past five years.
With an investment of $67 million the Spanish chain Riu Hotels & Resorts will build a beach resort in the district of Rio Hato, Cocle Province.
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