Hilton Hotels has announced the development of nine hotel projects in the region, which together will add approximately 1,300 rooms to the hotel chain in Central America.
From a press release by Hilton Hotels:
Hilton (NYSE: HLT) announces the expansion of its Latin American footprint with new deals signed in Central America. Now, Hilton has a pipeline of nine hotels across five countries in Central America, representing five of Hilton's brands: Hilton Hotels & Resorts, Curio Collection by Hilton, DoubleTree by Hilton, Hilton Garden Inn and Hampton Inn by Hilton.
For the first time in two years, Panama will achieve a hotel occupancy rate of 60% during the days of the Summit of the Americas, which will have an economic impact estimated at between $50 million and $80 million.
The visit which will be made by 35 presidents of the Americas and 25,000 people who make up their delegations have changed the landscape, at least for a few days, of the Panamahotel sector, which expects to achieve an occupancy rate of at least 70% from 6 and April 11.
The Hilton hotel chain has opened a 108 room hotel of the Hampton brand in downtown Panama City.
From a press release issued by Hilton Worldwide:
Hampton, of the Hilton hotel chain, continues its international expansion by announcing the opening of its first hotel in Panama. The new Hampton Panama has 108 rooms, the new building constructed by Hilton Worldwide, joins the world record of more than 1,900 hotels under the name Hampton Inn, Hampton Inn & Suites and Hampton by Hilton.
The hotel chain also announced the opening of its fifth property in the country by the end of the year.
From a press release by Hiilton Worldwide:
Panama, Panama City - Hilton Worldwide has announced the opening of Hilton Panama, a new 347 room hotel with a prime location in the heart of the city, the Hilton Panama offers panoramic views of the Pacific Ocean. This new hotel opened its doors in time to celebrate with all Panamanians the centenary of the Panama Canal and offers special introductory rates from $129 * per night to commemorate the occasion.
Although the number of tourists coming to Panama City continues to grow, there is still an oversupply of rooms, and in the last 3 years average occupancy has fallen by 10%.
The prevailing oversupply in the sector has begun to affect hotels, whose financial profits have been reduced by 20%. Currently the supply of rooms is 40 thousand, 8000 more than in and 2009 and although the number of tourists arriving in the country has not reduced, the percentage of unoccupied hotel rooms has reached 45%. The Panamanian Chamber of Tourism recognizes that the situation is worrying and is demanding institutional action in order to increase occupancy by 2015.
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."
Having hotel guests take home a product marked with your name or brand is the best way to differentiate yourself from competitors.
Competition is very tough and the internet has made global hotel deals transparent, so positively differentiating yourself and making clients remember you is vital for getting a return stay at your hotel.
In 2014 the number of hotel rooms in Panama on offer will exceed 17,000, for which an inevitable price war is foreseen.
The other problem revealed to entrepreneurs is the lack of skilled labor to service clients in sophisticated environments where mastering a second languages is essential.
The Panamanian inventory of hotel rooms in 2010 indicated the supply of 10,000 rooms. In the last three years, 20 new hotels have been built, and there are another 22 under construction. In 2014, when all these new buildings have opened their doors, the total will reach 17,392 rooms on offer.
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