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