The Hilton hotel chain has opened a 108 room hotel of the Hampton brand in downtown Panama City.
From a press release issued by Hilton Worldwide:
Hampton, of the Hilton hotel chain, continues its international expansion by announcing the opening of its first hotel in Panama. The new Hampton Panama has 108 rooms, the new building constructed by Hilton Worldwide, joins the world record of more than 1,900 hotels under the name Hampton Inn, Hampton Inn & Suites and Hampton by Hilton.
Hotel occupancy in Panama has dropped by two percentage points in the first months of the year, and it is estimated that by 2012 the occupancy rate will fall to 38%.
In the race for growth between the number of tourists arriving in Panama, and the supply of available beds, the latter is winning, and it is estimated that it wont be until 2016 that the current occupancy rates are achieved again.
With a $ 56 million investment, the new projects aim at the business market.
In the area of El Cangrejo, with a $ 10 million investment, a Howard Johnson will be built managed by Fr Consulting, who announced construction of two Hampton Inn, one on Via Argentina and another in the sector of La Boca.
"Another project in the capital city and aimed at the executive market, is the Wyndham Garden, which will begin operations in November." Says Prensa.com