In the first half the year the Tourism Authority of Panama granted 33 permits for the establishment of new hotels and 11 new licenses to travel agencies.
$102.8 million is the total amount invested in the first six months of the year in new hotels in the country, according to estimates by the Tourism Authority of Panama. "...Of the total ... 10 will be located in the province of Chiriqui, nine in Panama and four in the province of Los Santos.
Small hotels can not compete with the low prices used by big international chains in the sector to attract customers.
Entrepreneurs in the tourism sector in destinations in Manuel Antonio, Quepos and Aguirre are demanding urgent action by the government to halt what they call unfair competition, which coupled with the low influx of tourists in the area and the absence of a strategy for tourist attraction, is leading small hotel companies to bankruptcy.
The Paradisus Papagayo Bay Resort & Luxury Villa’s under construction in Costa Rica on stabilization of operations would operate as a profitable business, with net income of 35.3% of total revenue.
A report by a swiss capital company, SunVesta Inc., published by the United States Securities and Exchange Commission (SEC) reports on the details and progress of the $190 million tourist resort that the firm is developing in the Gulf of Papagayo in Guanacaste, Costa Rica.
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.
More and better roads, the new Rio Hato airport and the construction of three new hotels, are a sign of Colon's heavyweight presence in the Panamanian tourism boom.
The construction of the 26 kilometer highway between Cuango and Santa Isabel is encouraging investment in tourism infrastructure in the Caribbean, a hitherto unexploited area because of a lack of adequate transport access.
In a partnership with Central American businessmen five Park Hyatt hotels will be built in the capitals of Guatemala, Nicaragua, El Salvador and two in Honduras.
From a statement by the Hyatt Hotels Corporation:
"Hyatt Hotels Corporation today announced that a Hyatt affiliate has signed a master development plan with LATAM hotel Corp. to develop 10 Hyatt Place hotels in Central America and Mexico and that Hyatt affiliates have signed franchise agreements with LATAM hotel Corp. The five hotels are: Hyatt Place Managua in Nicaragua, Guatemala Hyatt Place in Guatemala City, Hyatt Place San Salvador in El Salvador, and the Hyatt Place San Pedro Sula and Tegucigalpa Hyatt Place in Honduras .
60% of hotels operating in the country have less than 30 rooms, in a market with oversupply in certain areas and a demand that is not growing.
Of the 2,515 hotels reported by the Costa Rican Tourism Institute, more than half are small establishments and family-run structures, while the others corresponds to large chain hotels, with a greater number of rooms.
In the past 20 years hotels have had to adapt to much more informed clients, who are less loyal and have broader interests.
An article on Hosteltur.com reviews the evolution of the hospitality industry, in times of globalization and most of all the possibilities offered by the Internet.
The Secretary General of CEHAT, Ramón Estalella, notes that "...
The hotel Crowne Plaza Panama Airport will offer 126 rooms starting February 2015 and will be located in the Global Business Terminal complex at Tocumen.
From a press release issued by IHG Hotels:
"Located near Tocumen International Airport, the Crowne Plaza Panama Airport hotel is part of the Global Business Terminal complex, a modern office building of 52 thousand square meters with a conference center and parking for over 700 vehicles."
The average occupancy rate in 2013 in the country's hotels was less than 50%, the lowest in the last five years.
Figures from the Costa Rican Tourism Institute indicate that the average occupancy rate during 2013 was 48.7%, the lowest since 2009, when the international crisis started, resulting in a significant reduction in the flow of foreign tourists coming to the country.
The current occupancy rate of 57% can be explained by the increased supply of rooms and the relative decline of San Jose as a business destination.
The increased supply of hotel rooms in the capital is one of the reasons for the low level of occupancy, which as of January stood at 57%. This occurs mainly in hotels that attract business travelers or tourists who spend up to two nights prior to departure.
Beach hotels recorded the highest occupancy of 74.1%, local mountain hotels had 70.24% and those in the city had an occupancy of 69.23%.
Although the expectation of 78% occupancy projected by the National Chamber of Tourism (CANATUR) was not reached, it was the highest average level in the last four years.
From a press release by the National Chamber of Tourism Canatur:
The hotel chain will invest $11 million in opening a 125 room hotel within the Altia Business Park in San Pedro Sula.
The project, will be developed by Grupo Karim's and its opening is scheduled for the last quarter of 2015. "The property is located in the northern part of San Pedro Sula, within the Altia Business Park which undoubtedly is the first smart city in Honduras," reported Latribuna.hn .
The Ritz-Carlton has announced that in 2016 it will open a new hotel in Pearl Island, south of Panama City.
The new facility will have 80 rooms, a spa, private beach club, three swimming pools and three restaurants. In addition, visitors will have access to a 1,800 square pavilion and function room with sea view.
"In an environment of abundant forests and beautiful private beaches, Pearl Island is the perfect place to experience a Reserve," said Herve Humler, president of The Ritz-Carlton.
Despite the low hotel occupancy levels between 2013 and 2015 $650 million will be invested in the construction of 23 hotels which will add 6,593 rooms.
2013 closed with 11 new hotels, some of which are already operating. In 2014 there will be 8 projects added to the list and in 2015 another 14 will be built. Among the projects that are planned to be built in 2015 are The Queen Hotel which will feature 324 rooms, Planet Hollywood with 309 rooms and Embassy Suite with 306 rooms.