In Panama, there are plans to develop in Bocas del Toro, Chiriqui, Archipelago de las Perlas and Punta Chame, five lodging projects that seek to benefit from the Law on Incentives for Tourist Investments.
Law 122 of December 31, 2019, which dictates incentive rules for the promotion of tourist activities in the interior of the Republic, attracted projects for the country, for a total value of $371,843,971 in new tourist investments, to be built in areas with great tourist potential, informed the Presidency of Panama.
CIFI and BID Invest authorized a loan for West Report S.A. to develop, build and operate a hotel complex in Bocas del Toro.
The new hotel, which will have 118 rooms, several restaurants, a spa and other meeting places for its guests, will be operated under the brand name Viceroy Hotels and Resorts, reported CIFI.
Construction has started in Tola of a mixed tourist complex estimated at $20 million which includes 12 houses, a four-story tower with 18 apartments and a commercial area.
Travis and Lucas Boychuk, promoters of the tourism project that will be located in Gavilán beach, reported that for the tourism development called "Surf Ranch Hotel & Resort-Emerald Coast Popoyo", they will be building condominiums, apartments, restaurants, an events center, commercial premises, swimming pools, a spa, casino, gym and other amenities.
A development company has started in Rivas the construction of a 1,800 square meter hotel with 24 rooms, two meeting rooms and other amenities.
Without disclosing the total amount of the investment, representatives of Gran Victoria S.A. stated that on February 1 construction started of a hotel that will be located in the center of the city of Rivas, which will have a swimming pool, restaurant and a basement.
An environmental impact study has been submitted in Costa Rica for a 14,000 square meter hotel development in the touristic region of the Gulf of Papagayo, Guanacaste.
In the environmental impact assessment (EIA) for the "DP6 Papagayo Project", filed with the National Environmental Technical Secretariat in July 2015 by Hoteleras Playa Pochote S.A., it is indicated that the hotel tourism development will have a maximum of 318 rooms.
The announcement of the construction of a new 151-room hotel in the resort Reserva Conchal Cabo Velas, Santa Cruz, confirms the recovery of the tourism sector in the country.
From a statement issued by Desarrollos Hoteleros Guanacaste S.A:
W Costa Rica, Reserva Conchal
Anticipated Opening date: Second Quarter 2019
SAN JOSE, COSTA RICA, June 30, 2015 - Development Hoteliers Guanacaste SA (DHG), a subsidiary of Florida Ice and Farm Company SA, announced today that it has plans to develop the hotel W Costa Rica, Reserva Conchal whose anticipated opening date will be during the second quarter of 2019. The W Costa Rica, Reserva Conchal will be operated by the prestigious American company Starwood Hotels & Resorts (Starwood), according to the contract signed between the parties involved. The project includes, among other things, the development of the following facilities: 151 rooms, the "W Living Room", a specialty restaurant, bar and lounge, infinity horizon pool, spa and convention center.
The company Toscana Azuero has announced that it will build a hotel and a housing complex in Playa El Toro, in the province of Los Santos.
Complaints by the hotel industry regarding the low occupancy rates of their rooms due to an apparent excess in the number of hotels, do not seem to have affected the boost in investment in the sector, particularly in areas outside of Panama City, where the largest number of rooms is reported.
An environmental impact study has been presented for a development, estimated at $400 million, which consists of 3 hotels, a golf course and 34 residential buildings on the Pacific coast, province of Puntarenas.
The company LAKE HILLE Y A S.A. has submitted to the Environmental Technical Secretariat of Costa Rica (Setena) an Environmental Impact Study to build a resort called "Punta Loros" in a beach touristic area 45 minutes away from San José, located in Tarcoles Garabito de Puntarenas.
The project consisting of 7 hotels with 855 rooms and condominiums to be built in the Papagayo Peninsula, Costa Rica, will be developed by the Costa Rican company Florida Ice and Farm.
According to a file submitted by the company Florida Ice and Farm (Fifco) to the Technical Environmental Secretariat, the project will require $467 million to be invested in five phases running up to 2022 and includes, in addition to hotels and residences, "...