Costa Rica: Hotel Investments in 2017

This year 11 new hotels are expected to open, adding 696 more rooms in different parts of the country, with an estimated investment of $149 million.

Tuesday, January 31, 2017

Details from the Costa Rican Tourism Institute (ICT) show that there are 11 establishments in the process of completing paperwork with the entity to declare themselves of tourist interest.

See: "Costa Rica: New Hotel Investment in Guanacaste"

The director of Tourism Management Institute, Gustavo Alvarado Chaves, said to Nacion.com that "... such data relates to accommodation centers that hav filed for declaration of interest with the ICT."

See also: "$45 million Investment in "Low Cost" Hotels"

Nacion.com reports that "...Meanwhile In 2016, 16 new tourist establishments dedicated to accomodation services were opened, with the generation of 292 direct jobs and adding 327 rooms to the total supply in the country. According to Alvarado, in 2015 a total of 17 new establishments opened under the declaration provided by the entity. In total, during 2015 714 units were added to the accommodation supply in the country."

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More on this topic

Hotel Market Statistics in Costa Rica

February 2016

Up to December 2015 2.559 hotels with 47,452 rooms were registered in the country, of which 70% are located in the city and at the beach.

Market figures have not yet reached the levels recorded before the crisis of 2008, when the Costa Rican Chamber of Hotels counted 2,599 hotels in operation, spread across different areas of the country, but are instead concentrated in the large metropolitan area and coastal areas.

More Boutique Hotels in Costa Rica

March 2015

Seven new establishments with high quality personalized service will add 291 rooms to the hotel inventory with its opening in tourist areas and in the capital.

There are currently 45 boutique hotels and the arrival of another seven is expected soon, some of which are already under construction and others are awaiting the appropriate permissions to operate.

Hotel Profits Down 20% in Panama

June 2014

Although the number of tourists coming to Panama City continues to grow, there is still an oversupply of rooms, and in the last 3 years average occupancy has fallen by 10%.

The prevailing oversupply in the sector has begun to affect hotels, whose financial profits have been reduced by 20%.

Panama: Hotel investment Moves From Capital To Interior of Country

May 2014

Tax incentives for the construction of hotels in the interior of the country are behind the increase in the number of operating permits issued since the implementation of the law in 2012.

With up to six years to start their projects, investors interested in developing hotel infrastructure in the interior of the country have until 2020 to benefit from the tax incentives which include total exemption from import tax, including transfer tax on goods and services (ITBMS), for a period of 20 years for the purchase of equipment, furniture, fittings and equipment used in the construction and equipping of the complex.

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