Panamanian Hotel Investment Goes On Despite Crisis

Despite feeling the crisis, investment in some sectors remains remarkably high, among them Hotels.

Wednesday, July 22, 2009

An article in Martesfinanciero.com indicates that "Reports from the General Comptroller of the Republic reveal that 110.487 passenger enetered the country in May, a drop of 18.0% when compared to the same month of 2008, when 134.784 people where registered".

In spite of this, multimillion investments continue becoming realities, because of the optimism in the sector's entrepreneurs. They expect to ready infrastructure for when the economic crisis ends.

More on this topic

GHL Hotels Inaugurates Sheraton in Costa Rica

June 2013

The Sheraton Hotel in Escazu which will be inaugurated on June 13, is valued at $40 million and has 172 rooms, 3 bars, 2 restaurants and a 1,500 square meter casino. 

The hotel, since two weeks ago, now operates 24 hours a day and is located adjacent to Multiplaza. "Although it was initially announced that it would operate under the brand Sonesta, the hosting center decided to market its offering with the distinctive Sheraton brand, owned by the Starwood Hotels Company", reported Elfinancierocr.com.

IHG Signs Agreement for the First Staybridge Suites in Central America

March 2011

InterContinental Hotels Group announced that it has signed an agreement with Shakir Investment Group for a new-build Staybridge Suites hotel, scheduled to open in late 2012 in Panama City, Panama.

It will be the first Staybridge Suites property in Central America, and the second in Latin America, complementing a 31-story, 215-guestroom Staybridge Suites in Saõ Paulo, Brazil.

Optimism from Panamanian Hoteliers Facing the Crisis

February 2009

Jorge Loaiza, President of the Panamanian Association of Hotels, believes that the sector will not suffer much from the crisis.

In an interview with La Estrella de Panama, the businessman shared his expectations about the economic crisis and his perspective on the state of the Panamanian tourist sector.

Costa Rica to buck US slowdown

April 2008

Foreign investment in Costa Rican real estate will decline this year, but capital flows to other sectors are likely to be maintained despite the slowdown in the US economy, according to a Costa Rican Central Bank report.

Investment is expected to fall in most Latin American countries, but Costa Rica's economic stability should reduce the impact of any reduction in capital flows, the bank says.

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