Too Many Hotel Rooms

As predicted, despite the continued growth in the influx of tourists, the accumulation of hotel openings and expansions in Panama has led to a drop in the occupancy rate of 7%.

Monday, August 6, 2012

The administrator of the Tourism Authority of Panama (ATP), Solomon Shamah said that this effect of hotel oversupply will last for two years, during which "hotels in Panama will feel that they are in low season."

An article in Prensa.com reports that "The movement of visitors has not been sufficient to absorb the flood of rooms that have entered the market, about 4 thousand in the last two years and this year it is estimated there will be 3,000 new rooms. "

In the first half of the year Panama received one million 75 thousand tourists and at the end of the year it expects to close with a total of 2.1 million visitors.

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