The hotel chain plans to establish its 50-story building, Evolution Tower, in the center of the financial district in Panama City's Zona Rosa.
A statement from W Hotels Worldwide reads:
W Hotels Worldwide Announces its First Hotel in Central America with the Opening of W Panama.
W Hotels Worldwide has announced the signing of an agreement with Evolution Tower Corp, an association between F & F Properties and EFC Group Inc., to mark the debut of W Hotels in Central America. Scheduled to open in early 2016, W Panama will be a 50-story tower, called Evolution, a mixed-use building that will include established premium office space in the heart of the city's financial district. W Panama will be built on Calle 50, just steps from the Calle Uruguay, known as the Zona Rosa of Panama and which is full of elegant restaurants and nightclubs.
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.
The real estate firm Kirebe is to build a Wyndham Garden Hotel in San Jose, Costa Rica.
The new hotel will be located in Escazú, on land adjacent to Play and EPA, and will open its doors in August, according to the plans of the property firm Kirebe, which has previously specialized in residential condominiums.
"This new Wyndham Garden Hotel will be geared towards corporate-executive tourism, a niche which has been growing in the country recently," Nacion.com was told by Alberto Orlich, Development Director at the Costa Rican company that is aiming to diversify into hotels.