In 2013 the number of building permits requested for hotel establishments across the country dropped by 62% compared to 2012.
The number of square meters authorized in the last 12 months between February 2013 and January 2014 fell to 47,515 m2 compared with the 126,036 m2 in the previous period, according to the Costa Rican Chamber of Construction.
At a cost of $1 million the project to build an airport in Southern Costa Rica is close to obtaining environmental certification.
The study is nearing completion and has a budget of $998,000, explained Ana Cristina Jenkins, Deputy Minister of Air and Maritime Transport at the Ministry of Public Works and Transport (MOPT).
"This year in 2014, we are about to start the socioeconomic study, with a $350,000 investment and we are ready to start it in February. The total period is 6 months."
The growth experienced in real estate development in the Pacific coast of Panama has not been tightly regulated.
Capital.com.pa reports: "... at the most recent construction fair, Capac Expo 2013 there were presentations of 36 projects in the Pacific area corresponding to the category of second homes or country housing units with access to beaches." Of these projects, 80% are located between Punta Chame and San Carlos and they don't include hotels.
From the financial point of view it is unworkable because it requires $24 to $30 million just to maintain the marian needed for cruisers to dock at the port.
In 2011 , the Tourism Authority of Panama (ATP ) announced that it would build the port terminal, however, the announcement was made without having carried out feasibility studies. After analyzing the situation the Government has withdrawn its plan to build the port .
Martinelli has announced a 270 kilometer road to link the provinces of Bocas del Toro, Veraguas and Colón, crossing through the region of Ño Kribo in the Ngäbe Bugle district.
According to President Ricardo Martinelli, construction is expected to start during this administration and to end in the next.
"Although he did not specify the cost of the work, which will cross the provinces listed, including the region of Veraguas and Kribo Ño in Bugle Ngäbe he warned that it will not affect the indigenous territory", reported Prensa.com.
The hotel franchise La Quinta Inn & Suites is building its first hotel in Central America in the city of Tegucigalpa.
The project will be called LQ Las Cascadas and is expected to open in late 2014.
Latribuna.hn reports: "Hoteles La Quinta is one of the largest hotel franchise companies, in addition to being owners and operators in the United States, Mexico and Canada, offering Business Class services with an innovative idea that distinguishes them from other hotels ".
An agreement has been made to give tax exemptions to Aerotel SA, part of Empresas Bern, for the construction of the Hotel Crowne Plaza Aeropuerto, near Tocumen International Airport.
Prensa.com reports: "Empresas Bern will benefit from tax incentives, according to the provisions of Resolution No. 078 of June 7 in the official newspaper, a total exemption for a period of five years from import tax on construction materials, and 10 years for furniture, fittings and equipment. "
Fifteen companies expressed interest in the tender with a price tag of $18 million to build the road that will connect Cuango and Santa Isabel, in Colon.
The Decameron Group has reported that it is waiting for the start of this road works in order to start building its 320-room hotel project in Punta Cocoye, Santa Isabel.
Among the companies interested include FFC, IBT Group-Ceinsa and Meco, who along with a dozen other companies will have to submit their proposals on 9 July.
With an investment of $270 million plans are underway to build a runway at Aeródromo Río Amarillo, and reconstruction of the Chamelecón road up to the border of Ocotepeque.
"... A decree has been passed authorizing the execution of a trust agreement for the project entitled "Financing, Construction, Operation and Maintenance of Aeródromo Río Amarillo in the municipality of Santa Rita in Copan", reported Laprensa.hn.
With an investment of $30 million the Croc Casino Resort will be built in Jacó, which will have 17 floors, and is forecast to open in December 2014.
The complex will have 152 rooms and 44 luxury condominium residences as well as a beachfront pool, restaurants, a nightclub, a spa, the "Croc Habitat" retail shops and facilities for meetings and conventions.
The Megapolis Convention Center, a new center for social and corporate events, allows up to 4000 people.
Also integrated into the group is the Radisson Decapolis Panama City, the Hard Rock Hotel Panama, a beach resort, a casino, restaurants and a shopping center with over 200 shops. According to company sources, this makes Panama, and the Radisson in particular, the ideal spot for conventions and major international events.
The Swiss equity firm SunVesta Holding AG has announced the start of construction of the Paradisus Papagayo Bay Resort, with an investment of $170 million.
The opening of the new hotel, which will have 381 rooms and will be developed in 21 acres, is scheduled for late 2014 and will be operated by the Spanish chain Melia.
Nacion.com reports that "although the company has not disclosed the cost of the investment, the Costa Rican Coalition for Development Initiatives (Cinde) estimated it at $170 million, in May 2011, when the project was announced."
The National Convention Centre will require an investment of about $30 million.
Of this investment, $27 million will be for the facilities themselves and $3 million for the provisioning of the project, said the Minister of Tourism, Allan Flores.
"The convention center will be built on an area of 10 hectares that the Comprehensive Agricultural Marketing Program (PIMA) has given in administration for 25 years, extendible, to the ICT.
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.