On September 27 and 28 representatives from hotel companies operating in Central America will be meeting in Panama City.
Roberto Diaz, president of the organizing committee, told Panamaamerica.com.pa that"... during the event they expect the participation of 300 people, including representatives from El Salvador, Guatemala, Colombia, Mexico and Costa Rica."
Due to non payment of interest on an issue of corporate bonds to investors the Panama Stock Exchange is suspending trading of three bond issues by the Panamanian company RG Hotels.
On June 12, the securities issuing company reported in a statement that it is thoroughly analyzing its financial situation, and announced they will not pay interest to investors who bought corporate bonds.
Tourism companies have denounced underspending in the budget for international promotion of the country and assert that the official figures for hotel occupancy are not real.
Industry representatives argue that the hotel occupancy rate published by the Tourism Authority merely represents a sample of some large hotels in the capital ", while data from hotels in the interior of the country are not even taken into account in the statistics. Added to this problem is the low implementation of the budget for marketing tourism in the country. According to a report by the ATP, "... as of April 30, 2015, not a single penny has been invested of the $2 million earmarked for the development of Panama as a country brand."
While occupancy rates and average prices continue to fall, the Panamanian hotel market is preparing to increase its supply by another 1,200 rooms at the end of the year.
The Panamanian Association of Hotels (Apatel) reports that in recent years there has been a 209% increase in the number of rooms available in the country, in contrast to demand which has only grown by 5% annually.
The business sector claims that the bill regulating the use of parking lots in shopping malls and public offices goes against private enterprise and sends signals of legal uncertainty.
The approval on its first reading of the amendment to Act 45 of 2007 which dictates measures on the rights of consumers related to the use of parking lots in shopping malls and public offices has been opposed by the private sector.
The campaign against property being rented out for tourism purposes establishes penalties with fines ranging from $5000 to $50,000 for those who promote and commit the crime.
The Tourism Authority of Panama (ATP) has opened up a communication channel for businesses and individuals to report cases of houses rented to foreign tourists in the capital, in compliance with Law 80 prohibiting this activity.
Tourism companies propose to boost the capabilities of the Destination Marketing Organization bureau and turn it into a public-private entity separate from the ATP.
Tourism entrepreneurs are asking the new government to revive the campaign to promote the country as a destination for convention tourism and expedite the negotiation of agreements with foreign airlines in order to increase the flow of tourists and improve the hotel occupancy rate, which is currently 59%, due to an oversupply of rooms.
"Charging for the use of parking is a general trend in the country in buildings, hospitals and shopping centers," said Sara Pardo, CEO of Westin Hotel in Costa del Este. There they charge $4 Monday to Saturday for the use of parking lots, while on Sundays the service is free.
It is estimated that this year hotel occupancy in Panama will close the year above 60%, which is an improvement compared to 2012 when it stood at 58.8%.
According to the president of the Panamanian Association of Hotels (APATEL), Jesus Sierra, "the positive impact it will have on the sector is due to the fact that this year we carried out various events of international significance such as the Ibero-American Summit of Heads of State and Government, the Latin American Business Conference and Plenary Assembly of the Latin American Business Council and the International Congress of the Spanish Language ... ", reported Laestrella.com.pa.
There is a need for 85% of staff working in hotels speak at least two languages, while some positions requires the mastery of three languages.
This was explained by Jesus Sierra, president of the Panamanian Association of Hotels (APATEL), who estimates that over the next three years they will require approximately 10,000 bilingual people in the country for the hospitality industry.
With its profitability affected by low hotel occupancy recorded in the capital of Panama, the hotel Esplendor has converted its 100 rooms into rental apartments.
This is the example of the boutique hotel Esplendor, which opened its doors in 2010 with an investment of $30 million, but at the end of 2012 closed due to the low occupancy rates, which made it unprofitable.
The turnover of three of the most important economic sectors in Panama, Industry, Trade and Hotels, exceeded $ 13,700 million in the first six months of 2012.
An article in Panamaamerica.com reports that "Associations both for tourism as well as industry report they are experiencing good economic times."
In regards to the hotel industry, which has experienced a drop in occupancy rates due to increased supply of rooms, in the words of Sara Pardo, president of the Panamanian Association of Hotels (Apatel) "on an individual basis, hotels are experiencing a dip, but globally because of the impulse in Panama City undoubtedly there does appear to be an increase because there are more rooms available. "
The hotel is immersed in 45 hectares of primary and secondary forest , at the foot of the majestic Arenal Volcano , which makes it a true oasis of peace, enriched by an exuberant vegetation and diverse fauna. Montaña de Fuego has become one of the most beautiful hotels in the area, with one of the most privileged panoramic views of the Arenal Volcano.
Operates in Costa Rica, Honduras and Panama
Phone: (506) 2479 1220 - (506) 2479 1220
We are one of the best luxury hotels in San Jose, we have five-stars for business or pleasure travel.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica
Phone: (506) 2523 1266 - (506) 8378 1266
Hotel Makanda by the Sea in Costa Rica announced that is has been chosen by the Elegant Small Hotels division of Lanier Publishing International Inc. for the prestigious honor of cover hotel for the 25th Silver Edition Guidebook.