$115 million invested in Panama hotel sector

The high demand by visitors to the capital city has caused more and new hotels to be built and for the number of rooms available to be expanded.

Tuesday, December 23, 2008

Hotels under construction include the Riu, the Megapolys, the Los Faros and the Le Méridien, which should start to function between 2009 and 2011.

More on this topic

Hotel Price War Continues in Panama

March 2015

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.

12 New Hotels in Panama

September 2009

In July and August, the Tourism Authority approved twelve new hotels and six travel agencies.

These new hotels will contribute 206 rooms and generate 155 jobs.

"In these two months, the entity has also received two hospitality investment proposals, which would add 536 rooms and 76 direct jobs", reported Prensa.com.

Panama hotel supply still not enough

January 2009

Despite an increase of 3.4% in 2008, hotels were unable to meet the demand for tourist accommodations.

According to sigloxxi.com, "For the sub-administrator of the Panama Tourism Authority, Carl Fredrik Nordstrom, supply increased, but "it is never enough," bearing in mind the increase in tourists that are visiting the country.

New investments renew the Panama hotel sector

November 2008

Growing level of occupancy have injected dynamism to the Panama hotel sector

This does not only include the construction of new installations, but the expansion and renovation of many of the lodging centers already established in the country.

For a while now the availability of rooms (which was over 5,694 in July 2008) is now lacking and according tot hte Panama Tourism Authority (ATP) 1,188 new rooms will be available at hotel that are already registered. This year the investment surpasses $117.7 million.

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