Atlapa Would Have Private Operator
Administered by Panama's Tourism Authority, ATLAPA Conventions Center losses $1 million each year.
Thursday, September 17, 2009
Salomón Shamah, manager of the Panamanian Tourism Authority, said in an article in Laestrella.com.pa that "ATLAPA is occupied 360 days each year, however it generates yearly losses of $1 million", and recommended that "administration of ATLAPA Conventions Center should be given in concession to a private operator".
In order to finance the construction of a new convention center, the Panamanian government has decided to sell Atlapa.
The Ministry of Finance has valued the Panamanian Atlapa Convention Center at an amount that will be difficult for futures buyers to pay.
The $150 million valuation of the Convention Center in Panama has been excessive by the authorities, who have requested a downward revision in order to speed up its sale.
Local businessmen are negotiating with the Tourism Authority the sale of the building, which the legislation states must be sold at $62 million, after the three previous auctions failed.
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