The strong economic growth experienced by Panama is also being reflected in the tourism industry, whose investments are increasing every year.

Between this year and 2013 the major hotel chains, in some cases in conjunction with Panamanian capital and in other cases independently, are expected to build new hotels on the beaches and in the city.

In an article in Laestrella.com.pa, Ernesto Orillac, legal advisor to the Panama Tourism Authority (PTA) said: "Still I can not mention names, but with the development of the airport in Rio Hato, two new hotels could be in Farallon soon, adding more than 600 rooms."

The report adds: "The emergence of more international chains is due, according Orillac, to the fact that the market has been growing and Panama is positioning itself as a tourist destination for business and shopping.

Annette Cardenas, the marketing manager of the Marriott Hotel in Panama, which has been in operation since before 1999, said that being a global brand is a guarantee for the guest.

"International recognition is very important for a destination that is just starting to promote itself, because you need such recognition within your supply chain", he said. "

Source: laestrella.com.pa

More on this topic

Panama: Beach Hotel Chamber

August 2015

Through the new tourism chamber Playa Blanca, hotels in the area will develop a joint tourism promotion strategy, similar to that implemented in Punta Cana and Cancun.

The main objective of the newly formed chamber is to promote the beaches in the area of ​​Farallon as a single large destination.

Another Investment by Riu Hotels in Panama

November 2012

With an investment of $67 million the Spanish chain Riu Hotels & Resorts will build a beach resort in the district of Rio Hato, Cocle Province.

The 520 room hotel under the name Riu Playa Blanca, will be the second in Panama owned by the chain, after having opened the Rui Plaza in 2010 which has 645 rooms in the capital.

Still Not Enough Tourists For So Many Hotels

August 2011

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.

$700 Million Invested in Panamanian Hotels

May 2010

20 hotels will be opened in the medium term; they will add 6.000 hotel rooms to the country's tourism industry.

15 are currently under construction in Panama City, including the Riu (poised to open in September), Hilton Double Tree, Megapolis and Finisterre. Other projects are being developed in the provinces of Coclé and Herrera, according to reports from the Panamanian Tourism Authority.