Panama Reports Boom in New Hotel Development

Many large hotel chains are investing in Panama, including the first Waldorf Astoria hotel in Latin America. The Panamera is scheduled to open by the middle of next year in Panama City. Also, Starwood Hotels announced the opening of their first Westin hotel in the area of Playa Bonita for early 2011. A second property in the capital city is scheduled for 2012.

Among the hotels recently opened in Panama is Riu Plaza, a luxury hotel with 645 rooms, located in the financial district and representing an investment of $120 million. The hotel offers 4,941 square meters of meeting space distributed in 21 conference rooms, ideal for meetings and conventions. It has a capacity for 1,300 people which includes a wide terrace with over 1,800 square meters for outdoor events. Breezes Resort Panama opened at the end of 2009 and is the first Super Inclusive resort in Central America. It has 294 rooms, four restaurants, three pools and spa, as well as wide range of activities.

Further, between 2010 and 2011, Hilton Hotels will be opening four hotels -- Hilton Panama, Embassy Suites, Doubletree by Hilton and Hilton Garden Inn. The Hilton Panama, a 27-floor hotel with 351 rooms, will offer amenities that include an 800-square-meter fitness center, more than 1,000 square meters for a spa, outdoor terrace swimming pool and a Las Vegas-style casino. It will also have 2,050 square feet of meeting space and a ballroom.

The Embassy Suites, a 21-floor hotel, will offer more than 1,440 square meters in meeting space and 1.200 square meters in recreational space. The growth of hotels in Panama is projected to continue beyond 2011. The Ramada Plaza & Casino, Days Inn and Gran Terminal will be opened during 2012. It is expected that in the next five years, 24 additional new hotel projects will be opened around the country.