CPG Real Estate, based in New York, and the Costa Rican Enjoy Group have acquired the Marriott Los Suenos and Marriott Belen, which until recently were owned by Grupo Cuestamoras.
In a transaction whose amount was not disclosed, the hotel group Enjoy Group and real estate investment firm CPG Real Estate, which owns several hotels in Costa Rica and other countries, announced the purchase of two hotels that were previously in the hands of a company whose main shareholder was Cuestamoras Group.
Hoteliers have suggested making Panama a "duty free" zone for tourists, eliminating customs and import duties and refunding ITBMS to visitors.
Faced with the loss of competitiveness in the Panama hotel sector, entrepreneurs are asking for customs and import taxes to be eliminated, and tourists to be refunded the ITBMS charged when leaving the country.
Solutions are being sought to the lack of promotion of the country and unfair competition from illegal hotels, so that the occupancy rate, which went from 70% in 2011 to 52% in 2015, can be improved.
According to the Office of the Comptroller General of the Republic, the occupancy rate in Panama fell once again last year, going from 56.1% in 2014 to 52.3% in 2015.
New buildings, the arrival of new brands, remodeling and expansion of facilities, are part of the changes in the hotel sector in the Guatemalan capital.
Most of the brand names that announced plans to expand their facilities or open new stores are focused on hotels for business travelers and convention tourism. La Quinta Inns & Suites is one of the hotels which announced its opening in Zone 10 this year, while the Marriott brand announced its alliance with Grupo Azur to open a franchise of this hotel in Zone 10.
The event will bring together 250 companies from the medical and tourism sectors and will be held from 24 to 26 April 2013, at Los Suenos Marriott Ocean & Golf Resort Hotel in Costa Rica.
For the fourth consecutive year, Costa Rica will host the Latin American Congress of Medical Tourism, an event organized by the Council for the International Promotion of Costa Rican Medicine (PROMED).
Marriott International has announced plans to convert the hotel Bristol Buenaventura in Panama into the first resort and the first hotel under their brand name in Panama.
Marriott International has announced plans to convert the hotel Bristol Buenaventura in Panama into the premier resort and premier hotel under their brand name in the country, according to a statement from the chain.
The hotel chain is to build a new premises and two existing ones are to be renamed to join the chain, meaning that there will be seven hotels in the canal country.
The economic boom around the Canal expansion and the expected arrival of more leisure and business tourists with high purchasing power, has attracted the attention of the multinational chain Marriott, which will soon have 7 hotels in Panama.
The chain has been selected by the Finisterre Hotel Group to run the first hotel under this brand name in Central America.
From 2012, the hotel will change its name to Finisterre Suites Marriott Executive Apartments, and will be operated entirely by the international chain.
This type of extended stay hotel specializes in catering to business people and executives who stay for long periods of time, with equipped apartments and restaurants open 24 hours a day.
Marriott, Sheraton, and Hilton are some of the brands that will expand in the country.
The strong economic growth experienced by Panama is also being reflected in the tourism industry, whose investments are increasing every year.
Between this year and 2013 the major hotel chains, in some cases in conjunction with Panamanian capital and in other cases independently, are expected to build new hotels on the beaches and in the city.
The IDB approved the funding mechanism to develop at the most eight Marriott hotels.
The Inter-American Development Bank (IDB) approved U.S. $ 42 million in long-term loans to finance a maximum of eight Marriott hotels, to be developed by Caribe Hospitality SA in Costa Rica, Nicaragua, Guatemala, Panama, Jamaica, Trinidad and Tobago, and Mexico as long as they comply with environmental standards and sustainability requirements.
Prices are expected to fall due to the over-supply caused by the $1.2 billion worth of investments planned over the next three years.
In capital city's province, there are currently 13,000 hotel rooms with a further 4,100 planned by the end of 2011. Though well received, the new rooms concerns businesses in the sector given that occupancy rates in the first half of 2010 were only 66%.
The opening of the JW Marriot hotel, located in Bogotá's financial district, forms part of its South American expansion plans.
Fernando Poma Kriete, executive vice-president of Real Hotels and Resorts (the hotel division of Poma Group), commented that the hotel is, "in the financial district of Bogotá and features 264 rooms, 143 with king size beds, 96 with full size beds, 24 junior suites and one presidential suite".
Before the end of the month Marriot will inaugurate a new tower and Finisterrre Hotel will enable 100% of its facilities.
With the new tower, Marriot will add 91 rooms to the hotel’s existing 298. Annete Cárdenas, Maarketing director, remarked that all the rooms have been completely remodeled.
In turn, Hotel Finisterre will complete the inauguration of its entire facilities on June 20, with a total 126 rooms.
Grupo Real will build a 5 star hotel in southwestern San Pedro Sula.
Pedro Castro, from hotel chain Real Intercontinental, explained the project was scheduled to begin in 2009, but was postponed due to the economic and political crisis experienced by the country.
From Tiempo.hn: "The new hotel will feature 150 rooms and all the facilities demanded by a project of this category".
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