Panama City continues hotel boom

AMERICAS – The hotel market in Panama City has nearly doubled its inventory from 7,000 rooms in 2007 to 13,000 rooms in 2014, according to a new promotional campaign by Marketing Challenges International (MCIntl).
 
The Panama: The New Business Hub of the Americas campaign by MCIntl, the North American marketing office of leading international convention bureaus and convention centres, has attributed the hotel market boost to strong economic growth and increased business and leisure tourism in recent years.
 
“More than 60 international corporations have established their regional headquarters here,” says Michel Couturier, President of MCIntl. “Panama is one of the most important economic centres in Latin America and is an essential business hub connecting North and South America. It’s no surprise that nearly every major international hotel brand has recently opened a property here.”
 
MCIntl said much of the new expansion has come from major international hotel brands, including Hilton, Starwood, Sheraton, and Trump, as well as a number of luxury boutique brands.
 
The new influx of hotels has also brought significant increase in meeting facilities, fueled by increasing demand from Panama City’s meetings, conventions, and incentives market.
 
Notable hotel openings in the last few years include the Westin Playa Bonita, offering 611 rooms; Hilton Panama, with 347 rooms; Hard Rock Hotel Panama Megapolis, with 1,500 hotel rooms; and the Trump Ocean Club International Hotel and Tower, with 369 rooms.
 
In addition to the new convention hotels, Panama City has also seen the opening of a wide range of boutique properties, for small and mid-size meetings and incentives, including Starwood’s lifestyle brand Aloft opening in late 2013, offering 139 rooms.
 
According to MCIntl, Panama City’s hotel boom doesn’t show any signs of stopping soon, especially with the opening of a new convention centre in 2015 (pictured), which is expected to boost its position even further.
 
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