In September and October hoteliers reduce or close their operations due to the low levels of occupancy recorded at this time of year.
Many of these companies send their employees on training courses or terminate their contracts as occupancy levels in these two months are at the lowest of the year. "... The situation is even more difficult, as it is estimated that the average occupancy will fall to 35%, and less than 30% in many cases," reported Nacion.com.
Renting apartments for tourism is the apparent culprit for hotel occupancy in Panama City falling by 10% in the last year.
Apartment owners have increased their sales despite the existence of a law banning tourists renting for less than 45 days.
Prensa.com reports: "Hotel owner Jaime Campuzano recognizes that three-bedroom apartments are being offered for $60 a day, which hotels prices can not compete with."
At least 10% of small B & B type hotels in Costa Rica are no longer active.
It has been estimated that in San Jose alone 10 hotels have closed their doors, however, it is not known how many of these types of establishments are operating in the country. "The information comes from knowledge held by private sector authorities, including the National Network of Small Hotels of Costa Rica (Renaph) and the Costa Rican Chamber of Hotels (CCH), through which it can be inferred that they have been affected by the economic situation," reported Elfinancierocr.com.
In Panama the continued increase in the number of hotel rooms exceeds the rate of increase of travelers.
During the first half of 2013 the country received 1.1 million tourists, 42,500 more than in the same period of 2012.
Despite the increase in the number of visitors, hotel occupancy levels in the capital fell. According to the Tourism Authority of Panama (ATP) "up to June there was an accumulated overall occupancy of 59.2%, meaning a 1.9% decrease compared to the first six months of 2012", reported Prensa.com.
Situated on the Azuero Peninsula, the Cubitá Boutique Resort & Spa hotel comprises of 100 luxury rooms, a convention center, a shopping mall and a residential area.
From an article published by Grupo Cubitá:
On October 12, 2013 a new chapter will be written in the history of the Azuero Peninsula with the official opening of the acclaimed Cubitá Boutique Resort & Spa, the first project of its kind in the Republic of Panama.
In the first five months of 2013 971,526 tourists entered the country who spent $1.023 billion, approximately $99.2 million more than in 2012.
Prensa.com reports: "Of all the visitors who entered the country between January and May, 65.8% did so via Tocumen International Airport, while the rest entered the border between Panama and Costa Rica, with growth 5.7%. "
There are currently 812 hotels registered offering a total of 18,500 beds in 11,200 rooms, which in 2012 had an occupancy rate of 66%.
A total of 432 new hotels were built between 2006 and 2012, representing an increase of 113.6%. At the end of 2012, the country had 11,189 rooms.
Data provided by the Central Bank of Nicaragua (BCN) reveals that last year (2012) occupancy rates in the country were 66% ."Before we did not know much about the hotel industry, with all this support we can see that the hotels that are emerging are characterized by customer services, the attention, the measurements of the rooms, meals, in short, I think it has improved a lot," said Sandra Mejia , president of the Association of Small Hotels of Nicaragua (Hopen).
The country will be promoted as a destination for congresses during the AIBTM fair which will take place between Tuesday and Thursday in Chicago, United States.
According to the chief of Tourism, Allan Flores, AIBTM's presence of 14 companies operating in the country, is part of a strategy to position Costa Rica in the conference and meetings market.
On average, each person attending a convention injects $300 per day into the Panamanian economy, for accommodation, shopping, food and transport.
According to the Tourism Authority of Panama (ATP), since the beginning of last year up until now there have been approximately 200 conferences in the country. The conventions in 2012 alone generated for the country between $45 and $50 million in foreign exchange.
During the first four months of 2013 the convention and congress sector revived the hotel sector which recorded an average occupancy of 61%.
Prensa.com reports that "in total, between January and April 831,593 visitors were reported, which is an increase of 4.4% with 34,893 additional travelers compared to the same period last year."It is estimated that during this period about $847.7 million entered the Panamanian economy.
The act of holding conventions in Panama has intensified areas such as transportation, lodging and shopping, and its contribution to GDP is projected for this year at $32 million.
According to the Tourism Authority of Panama (ATP), the IX World Congress and celebration of 50th anniversary of the World Missionary Movement's work, held at the Figali Convention Center, generated 20,000 room nights and provided $5 million.
Central America is in the lead with a 34% average price growth of hotel reservations recorded in the region, while in North America it was 18% and in South America 14%.
From the Transhotel-HOSTELTUR Barometer published by Hosteltur:
The average price of hotel reservations in America during the first quarter of this year was $680, representing an increase of 20% according to the first edition of "Transhotel-HOSTELTUR".
With its profitability affected by low hotel occupancy recorded in the capital of Panama, the hotel Esplendor has converted its 100 rooms into rental apartments.
This is the example of the boutique hotel Esplendor, which opened its doors in 2010 with an investment of $30 million, but at the end of 2012 closed due to the low occupancy rates, which made it unprofitable.
An oversupply of rooms, the competition of "vacation rentals", Liberia airport, and the lack of an international convention center, are factors affecting the profitability of hotels in the capital.
Elfinancierocr.com reports that "The average rate for a standard double room in the small three star hotel in the capital, Rincon de San Jose, dropped from $52.5 in 2011 to $49 in 2013.
Growing tourism means that at least 1,000 hotel rooms need to be added to the inventory in each of the coming years.
Although Nicaragua currently receives the least amount of foreign exchange from tourism of all the Central American countries, growth projections, which indicate that in 2013 1.3 million tourists will arrive, have exposed its shortcomings in terms of hotel infrastructure.