Jaime Campuzano, President of the National Council of Tourism of Panama, said, "These events are significant and are raising hotel occupancy rates in the country, between them we calculate there are around 6,000 to 7,000 people with their companions, who are making an economic impact of 13 million dollars. "

The tourism sector has high expectations that at the end of the championship, members of the delegations and travelling partners will take tours around the country.

An article on the website of La Estrella reports, "Both of these events, not only benefit hotels in the capital city, accommodation companies in the Azuero region and in the province of Veraguas but also sports centers in their respective cities have also seen a part of the profits."

Source: laestrella.com.pa

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In Panama 30 hotels are now working with an application that allows travelers to book and rent rooms for a number of hours and not for a full day.

In an attempt to raise their occupancy rate, which at the national level has not managed to exceed 45% in recent years, some hotels in Panama have started trying out alternatives. For example, an application made by the Spanish company ByHours, allows travelers to rent a room for 3, 6 or 12 hours, during any period of the day.

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Although the number of tourists coming to Panama City continues to grow, there is still an oversupply of rooms, and in the last 3 years average occupancy has fallen by 10%.

The prevailing oversupply in the sector has begun to affect hotels, whose financial profits have been reduced by 20%.

Hotel Industry in Panama: More Investment - Less Occupancy

February 2013

During 2012 investment in the hotel sector was $433 million, and the average occupancy rate fell to 59% from 69% in 2011.

The selection of hotels in Panama continues to grow faster than demand, which is reflected in figures released by the Tourism Authority (ATP by its initials in Spanish) which indicate that in 2012 the overall hotel occupancy rate stood at 59%, 10% less than in the same period in 2011, noted an article in Capital.com.pa.

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