Panama: Hotel Occupancy Mantains Downtrend

The increase in the average number of days that tourists stayed in the country was not enough to offset the drop in hotel occupancy, which fell to 50% in the first quarter of this year.

Tuesday, May 17, 2016

The difficulties that hotel sector is facing due to the lack of international promotion of the country as a tourist destination and the oversupply of rooms registered in the country explains the downward trend which is still being seen in hotel occupancy rates.

It is hoped that the international promotion which the Tourism Authority will start once it has completed the tender process will help improve the sector's performance.

The occupancy rate dropped to 50% in the during the first quarter of 2016, which is a reduction of 9% compared to the same period in 2015.

Figures from the General Comptroller's Office indicate that in March 2016 there were 10,452 hotel rooms, similar to the same period in 2015, when 10,422 were recorded.

The daily average of overnight stays in the first quarter of 2016 was 11.3, higher than the 9.8 registered in the same period in 2015.

See figures from the Office of the Comptroller General (In Spanish).

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