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 newhotel, 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.
In Panama, a bill was approved that will grant tax exemptions until 2025 to those who make investments in hotels and recreational activities.
On December 31st, President Cortizo sanctioned the bill that provides tax incentives to the tourism sector by modifying some of Law 80 of November 8th, 2012.
Through a strategy that will be implemented in the coming years, the authorities seek to position the country as a gastronomic destination by 2026.
According to the National Gastronomic Tourism Strategy for the period from 2019 to 2025, to be implemented by the Guatemalan Institute of Tourism (INGUAT), the country will work in four axes.
Because the legislation currently does not allow the collaborative hosting economy platform to operate in the country's capital, the company expressed an interest in working with the authorities to remove the ban.
For now, the platform only offers the public accommodation in the interior of the country, the most popular destinations being Bocas del Toro, Río Hato, Boquete, Chiriquí and Playa Gorgona.
The Salvadoran Corporation of Tourism tenders the works of supervision and improvements of the physical facilities of the tourist complex of the Port La Libertad.
For the end of 2019, is scheduled the inauguration of Oceana Resort, a hotel complex that will offer 200 rooms and is located on the beach of Iztapa, department of Escuintla.
Oceana Resort + Conventions will be a hotel that will have a total of 22 thousand square meters of construction and will operate under the format of "all-inclusive". The building is located at kilometer 6 of the road from Iztapa to Monterrico.
Between January and July of this year, works were processed in Costa Rica equivalent to 6.05 million square meters of construction, an area that exceeds in just 2% the reported in the same period of 2018.
The report prepared by the Federal College of Engineers and Architects (CFIA) records a slight increase in the area built between January and July 2018 and the same period of 2019, going from 5.93 million m2 to 6.05 million m2.
Arguing that a complete report on the financial situation of the companies owning the development was not presented, the Costa Rican Tourism Institute decided to cancel the concession of the Monte del Barco project, in the Papagayo Tourist Pole.
Aldesa Fondos de Inversión reported that Inversiones Monte del Barco S.A. and Inversiones GODA S.A., companies owning the tourism development, were notified last July 4th, but the concessionary companies will proceed to file in time and form, the appeal for replacement or revocation before the Board of Directors of the Costa Rican Tourism Institute.
The Canyon Group plans to invest more than $200 million in the construction of its first resort in Central America, which will be on the Papagayo Peninsula in Guanacaste, Costa Rica.
Without specifying the start date of construction of the new resort, which will be part of the brand of hotels "Six Senses", the developers of the project reported that the hotel is expected to be ready in mid 2021.
The reported drop in investment in the tourism sector explains part of the 22% drop recorded in Foreign Direct Investment between 2017 and 2018 in Costa Rica.
Figures from the Central Bank of Costa Rica (BCCR) detail that between 2017 and 2018 the flow that reached the country fell by $608 million, from $2,742 million to $2,134 million, equivalent to a decrease of 22%.
Because of the delay of the Costa Rican authorities to solve the problem of water supply in the Gulf of Papagayo, developers request that the terms of the concessions granted to them to develop tourism projects in the area be extended.
The Instituto Costarricense de Turismo (ICT) has already received requests for concessions to be extended, because some of the projects that have not been completed have already consumed half of the time they were granted.
On a 21-hectare site in Sardinal, Guanacaste, a tourist complex consisting of a hotel and private residences is planned.
ML CR Continental LLC presented the Environmental Impact Study (EIA) to develop the project called "Hotel and Villas Cala del Sol", which will be made up of three hotel villas and seven private residence villas.
In the coming months, it is planned to build in Alajuela, Costa Rica, a real estate complex consisting of a hotel, an office building and a commercial area.
Inversiones Andino S.A. presented the Environmental Impact Study (EIA) to develop the project called "City Towers Alajuela", which will have a construction area of 26 thousand square meters.
On a 360-hectare property in the district of Chirú, in the province of Coclé, the project plans to begin building the basic infrastructure for the subsequent development of a tourism project.
According to the interactive information system "Construction in Central America" by CentralAmericaData, Desarrollo Turístico Solmar, S.A. presented the Environmental Impact Study to the Panamanian authorities of the project called "Development of Basic Infrastructure for Solmar Tourism Project."
Of the $91 million invested in tourism projects in El Salvador during 2018, 87% went to finance private works and 13% to public infrastructure.
The Ministry of Tourism (MITUR) reported that among the projects with private investment are works located in the Ruta de las Flores with an approximate investment of $6.27 million, in El Tunco beach with $3.8 million, in Boquerón $1.36 million and in the Ruta Fresca $1.8 million.
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