Marriot to invest $40 million in Panama

The international hotel chain Marriott is expanding into Panama, and will spend 40 million dollars on a 300-room hotel in Panama City.

Monday, July 21, 2008

Edward Fuller, president and executive director of the region for Mariott International, said the project will be part of their luxury brand Renaissance.
The project will have two towers: the first will be the hotel ana up to 150 apartments, while the second is to be reserved for offices.

More on this topic

The Office Market in Costa Rica

October 2013

In the last year the country has built about 120 thousand square meters of new class A and AB office spaces, and recorded an availability rate of 11.9%.

In recent years, Costa Rica has become one of the major markets for offices in Latin America, ranking eighth in creation of supply in this sector, according to a study by the US real estate firm Jones Lang LaSalle (JLL).

More Marriott Hotels in Panama

April 2012

The hotel chain is to build a new premises and two existing ones are to be renamed to join the chain, meaning that there will be seven hotels in the canal country.

The economic boom around the Canal expansion and the expected arrival of more leisure and business tourists with high purchasing power, has attracted the attention of the multinational chain Marriott, which will soon have 7 hotels in Panama.

$5 Million Investment in Office Center

November 2011

The new "Corporate Multi-center" ("Multicentro Corporativo" in Spanish) complex will be opened in November in the Costa Rican capital, San Jose.

Approximately 5,300 m2 of office space will be created on two floors with 2,300 m2 on the fourth floor and 2,100 on the seventh.

Residence Inn by Marriott Opens in Costa Rica

June 2009

The 109-room hotel opened on June 12th, and it is the first Residence Inn by Marriott to be built outside the United States and Canada.

The hotel, which is property of Caribe Hospitality, is administrated by Marriott International and required an investment of more than $10 million.

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