As a result of the sanitary crisis caused by the covid-19 outbreak, hotel occupancy in Panama has fallen to historic levels and business income has gone up in smoke, a situation that is forcing hotels to look for options to renegotiate their debts.
It is estimated that in this context of economic crisis, Panamanian hotels owe $630 million to financial institutions.
Because of the restriction measures decreed in the country due to the covid-19 outbreak, between March and April of this year the average hotel rate for two people decreased from $160 to $120.
According to the "Monetary Policy Report" prepared by the Central Bank of Costa Rica (BCCR), in the face of the health crisis, hotel occupancy in the country has plummeted in the first four months of the year, from 90% in January to 15% in April.
Last year, hotels in Panama City reported an average daily occupancy of 4,571 rooms, 1% less than in 2018.
Reports from the General Comptroller of the Republic indicate that in December the daily average of occupied rooms did not register significant changes with respect to the same month last year, going from 4,307 to 4,281.
Although in the first semester the average number of occupied rooms in Panama City remained unchanged with respect to the same period in 2018, the figures are still far from what was recorded in the first six months of 2017.
According to the reports of the General Comptroller of the Republic in June the daily average of occupied rooms did not register significant changes with respect to the same month of the last year, product of growing from 4.488 to 4.490.
During May of this year, hotels in Panama City reported an average daily occupancy of 4,293 rooms, 4% less than the same month in 2018.
The figures of the General Comptroller of the Republic detail that in May the daily average of occupied rooms registered a decrease with respect to the same month last year, product of decreasing from 4,479 to 4,293.
From January to April of this year, hotels in Panama City reported an average daily occupancy of 4,933 rooms, just 1% more than the same period in 2018.
The latest report of the General Comptroller of the Republic, details that only in April the daily average of occupied rooms registered a 2% increase over the same month last year, growing from 4,630 to 4,691.
From January to March of this year, hotels in Panama City reported a daily average occupancy of 5,014 rooms, 2% more than that recorded in the same period in 2018.
The latest report of the General Comptroller of the Republic, details that only in March the daily average of occupied rooms registered an 8% increase over the same month last year, growing from 4,644 to 5,017.
During 2018, hotels in Panama City reported an average daily occupancy of 4,602 rooms, 7% less than in 2017.
The latest data from the General Comptroller of the Republic detail that only in December the daily average of occupied rooms registered a 5% drop compared to the same month last year, falling from 4,544 to 4,307.
Because the facilities do not meet minimum quality standards, 79% of registered accommodations in Guatemala are classified as not recommended.
The Guatemalan Institute of Tourism (INGUAT) reported that most hostels, pensions, small hotels and other hotel facilities in the country are considered as not recommended because "they do not meet quality standards and are not suitable for domestic and foreign tourists to visit."
After Selina opened its first establishment in Antigua, Guatemala, the international chain announced that next year plans to open five new hotels in different parts of the country.
The chain's representatives informed that for the opening of the new hotels, which will be in the departments of Solola, Escuintla, Guatemala, Alta Verapaz and Peten, an investment of approximately $6 million will be made.
From January to May of this year, hotels in Panama City reported an average occupancy of 4,799 rooms per day, 7% less than in the same period in 2017.
According to figures from the Office of the Comptroller General of the Republic, in May alone the average number of occupied rooms registered a 5% drop compared to the same month last year, when it fell from 4,690 to 4,479.
The Guatemalan association of small hotels has announced that they have started operating a web application that allows tourists to make reservations online and for hoteliers to publish their promotions.
María Renée Cárcamo, President of APEHGUA pointed out that "With this measure, the first step is being taken to make an active association and at the same time the aim is to encourage small hotels to optimize processes and services of the association towards hotels".
Hotel entrepreneurs in Costa Rica attribute the decline in occupancy rates to a lesser flow of US tourists visiting the country, which in the first half fell by 2%.
According to the results of an occupancy survey carried out by the Costa Rican Chamber of Hotels among its affiliates, hotel occupancy fell by 5% in June compared to the same month in 2016, and projections for the coming months are not very flattering.
The Tourism Authority in Panama estimates that the supply of residences in the country that are rented out to tourists now represents 20% of hotel occupancy.
Hotel occupancy remains at the same levels as a year ago, around 50%, according to data from the Office of the Comptroller General of the Republic. According to hoteliers and the Tourism Authority of Panama (ATP) itself, it has not been possible to improve the figures due to an increasing supply of vacation rentals, an activity which has been banned since 2014 under Law 80.
The union of hotel projects has increased the number of rooms available this year by 300 and in 2018 it is estimated there will be a further 100.
The expansion plans of existing hotels and construction of new ones were announced by officials at the Salvadoran Association of Hotels (ASH), which stated that the new rooms will be located"...