Small Hotels in Panama CityThursday, June 30, 2011 About $40 million is being invested in hotel projects with less than 45 beds. These type of accommodation centers are beginning to be developed in Chiriqui, Colon, Los Santos and Bocas del Toro, keeping pace with the growth in the number of tourists arriving in Panama, which up to May this year recorded a 12% increase compared to same period last year. Tourist in-flow increases but Hotel Occupancy FallsFriday, July 18, 2014 In Panama the increase in room supply has caused a price war between hotels trying to attract travelers and increase the occupancy rate which on average is not more than 60%. Hotel occupancy in the country has been declining since 2011, when it stood at 68.6% dropping to 59.3% within the sector this year, according to figures from the Tourism Authority of Panama (ATP). Boom in Vacation Rentals Hurts HotelsThursday, April 18, 2013 Hotel owners are complaining of unfair competition from apartment owners who rent their properties for tourism at low prices. Hoteliers in Panama believe that competition is not fair because these property owners do not pay tourist tax and work illegally. Panama: Tourism Now Focusing on the CaribbeanMonday, May 5, 2014 More and better roads, the new Rio Hato airport and the construction of three new hotels, are a sign of Colon's heavyweight presence in the Panamanian tourism boom. The construction of the 26 kilometer highway between Cuango and Santa Isabel is encouraging investment in tourism infrastructure in the Caribbean, a hitherto unexploited area because of a lack of adequate transport access. Panama: No Pause in Hotel ConstructionTuesday, October 1, 2013 Despite the low hotel occupancy levels between 2013 and 2015 $650 million will be invested in the construction of 23 hotels which will add 6,593 rooms. 2013 closed with 11 new hotels, some of which are already operating. In 2014 there will be 8 projects added to the list and in 2015 another 14 will be built. Among the projects that are planned to be built in 2015 are The Queen Hotel which will feature 324 rooms, Planet Hollywood with 309 rooms and Embassy Suite with 306 rooms. Still Not Enough Tourists For So Many HotelsMonday, August 15, 2011 Hotel occupancy in Panama has dropped by two percentage points in the first months of the year, and it is estimated that by 2012 the occupancy rate will fall to 38%. In the race for growth between the number of tourists arriving in Panama, and the supply of available beds, the latter is winning, and it is estimated that it wont be until 2016 that the current occupancy rates are achieved again. Hotel Sector Bets on EventsMonday, January 20, 2020 In order to increase hotel occupancy in Panama, business people believe that the country should focus on attracting clients in the segment of meetings, conferences, exhibitions and congresses, events that could become the lifeline of the sector. According to reports from the General Comptroller of the Republic, in October 2019, hotels in Panama City reported an average daily occupation of 4,457 rooms, 5% less than the same month in 2018. $125 million Investment in Resort in Costa RicaThursday, February 20, 2014 A group of Central American business people are building the luxury resort Dreams Las Mareas in Guanacaste, Costa Rica. Operations are expected to start in November at the luxury resort Dreams Las Mareas in Guanacaste, whose construction started months ago having been set up by a group of businessmen in the region, using an investment of $125 million. |
|