With an investment of $20 million the Crowne Plaza Panama Airport will be constructed, one minute from Tocumen International Airport.
Intercontinental Hotels Group and Bern Hotels & Resorts have signed an agreement to build the Crowne Plaza Panama Airport, which will be located on the premises of Global Business Terminal in Torremolinos, Tocumen.
The project which will open in the next 24 months, will be the closest to the Tocumen International Airport, a distance of about one minute.The hotel will have 126 rooms, a restaurant, exercise room, business center, bar and meeting rooms, however there are plans to increase the number of rooms to three thousand in the future.
Property Developer Cubitá will begin in September a project by the same name in the Province of Herrera, Panama.
The works include the converting five acres into land suitable for residences, a shopping mall, condominiums and a hotel, the construction of which is expected to be completed in late 2012.
According to an article in Laestrella.com.pa's, "The project includes building 91 houses in the residential area, of which 64 are apartments and 27 will be houses, all within a gated complex with a perimeter wall and security gate. The square, the commercial component of the new concept, will have the capacity to house 17 shops or establishments. "
The first Trump Hotel Collection of Latin America will open in Panama City in June 2011.
"The project required a $ 400 million investment, of which 220 million were obtained through a bond issuance held by Newland International Properties Corp. in 2007", reported Prensa.com.
The hotel has 369 rooms sized between 48.8 and 145 square meters, a 929 square meter spa and about 1.500 square meters for events.
Tourism projects which stalled due to the 2008 crisis, have retaken momentum.
Among the projects is Casa Mar, a $ 15 million residential complex, currently on its first phase.
Prensa.com reports, "The Ibiza group in Spain is building a Condor Hotel for more than 10 million dollars ... One of the projects to take off again is Vista Mar, from Shahani Investment."
The hotel chain announced it will build in Panama its first 'condo-hotel' of Central America.
Project developer, Bruno Carnesella, said construction will take place within 18 months and generate permanent employment for at least 90 people.
According to Bruno Carnesella, "... the hotel's 60 suites will arise in the traditional district of Bella Vista, Panama City, with the latest technology, will feature an Italian restaurant, a branch of Italian store Coveri, which will host fashion parades and will also have the Carlson Group reservation system under the Park Inn brand," reports the article in Terra.com.
The IDB approved the funding mechanism to develop at the most eight Marriott hotels.
The Inter-American Development Bank (IDB) approved U.S. $ 42 million in long-term loans to finance a maximum of eight Marriott hotels, to be developed by Caribe Hospitality SA in Costa Rica, Nicaragua, Guatemala, Panama, Jamaica, Trinidad and Tobago, and Mexico as long as they comply with environmental standards and sustainability requirements.
The company announced construction projects in Costa Rica, Panama and El Salvador.
In Zona Rosa, San Benito, at the Salvadoran capital, plans are to build a complex which includes a 16 floor Holiday Inn Hotel and a 4 thousand square meter commercial and office area, announced Roberto Murray Meza, President of Agrisal.
"In Panama, plans are to build a Holiday Inn in early 2011 so to be ready by mid-2012.
The Realtor Albrook plans to build three hotels in the Albrook Mall by 2012.
Mayor Alfredo Alemán, president of Panamanian Realtor Albrook, commented that the construction of the Days Inn, Ramada Plaza & Casino and Gran Terminal hotels will generate around 1,000 permanent jobs.
"Alemán explained that Ramada Plaza & Casino hotel, which will cost $29,340,000 to build, will feature 326 rooms aimed at corporate clients and tourists as well as a gym, pool and access to the mall," reports Laestrella.com.pa.
The Spanish hotel chain will build a $100 million hostel in the district of Antón, province of Coclé, over the Pacific coastline.
Carlos Córdoba, sales manager for Riu in Panama, remarked that they already have authorization to start earthworks, but they will not focus on this project before they finish the one under construction in Panama City.
“The cost of the existing hotels in Antón ranges from $8 million to $200 million.
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.
It will become the first Waldorf Astoria hotel in Latin America; it is scheduled to open in the second half of 2011.
“The Panamera”, as it will be known, will be administered by Hilton Worldwide using the Waldorf Astoria brand.
John Vanderslice, luxury brand manager at Hilton Worldwide, said: “Introducing the first Waldorf Astoria in Latin America shows Hilton’s intention of growing in the region, bringing new brands to new markets”.
Hotel chain Hyatt will administer two hotels that will be built in the banking district and the Eastern coastline.
Josep Malca, president of Inmobiliare Real Estate Development, owner of the financial district hotel, announced that construction would start on May and could be ready by 2012. Total investment in this project sums $22 million.
The other project, located in the coastline, would feature 179 rooms, cost $28 million, and its construction would start in 2011.
The company had previously announced it would build a luxurious hotel in Crystal Suites, Vía Brazil, but now informed it has canceled the project.
Buddha Bar Rental Management S.A. and Realtor Zebal S.A. reported the National Securities Commisison (CNV) that they had cancelled the contracts for buying lots for the project.
Prensa.com tried to find out more as to why the initiative was cancelled, but the spokespersons of the project in Panama refused to comment. Similarly, Crystal Suites representatives stated they could not refer to the project.
$20 million will be invested in developing 350 new residences.
Marta Molina, spokesperson for Royal Decameron Golf Beach, Resort & Villas, explained they will also invest in enlarging the hotel and building a shopping center.
Prensa.com reports: “the mall will boast 30.000 square meters of commercial space”.