New hotel announced for Pacific coast

I continue to be surprised at the continued investment into hotels in Panama. Now another large all inclusive one has been announced near the Nikki Beach and Decameron operations by the RUI company out of Spain. Only $100 million going into this one. They have over 100 hotels already so what is a few more. I guess with Spain going down the financial tubes it is time to get money out into something tangible. The benefit to all of us in Panama is they have to compete for business with the locals in the off season so you will see $49 a night for great fun.

Come on down! More brings more.

From La Prensa

MINERVA BETHANCOURTH
[email protected] 

  Competition intensifies beach hotels in the province of Cocle. Nikki Beach, Decameron and Bristol Buenaventura may have in the medium term an additional competitor, a Riu.

 This is the second bid in Panama Spanish chain, which building a hotel in Havana's Calle 50, which is expected to open in September.

  Continuing the holiday court that has developed at the global level, it was learned that Riu identified and purchased land in the area declared as a tourist site in the district of Antón, Cocle Province, to carry out the construction.

To date holds a permit for the movement of earth, but hotel managers chose not to delve into details about the new center, saying they are focused on the construction will require an investment of 100 million dollars.

  Carlos Cordova, director of Riu chain's sales in Panama, said at the conclusion of this work may discuss and define the characteristics of the new hotel in the district of Antón.

  The cost of the hotels that have been developed in the district of Antón has ranged between 8 million and $ 200 million, being the pioneer Decameron in the region and also the "opening act" of all-inclusive.

  International competition

  Riu, a native of Mallorca, has over 104 hotels spread over 21 countries and in terms of income in accordance with cincodias.com portal, managed a thousand 265 million dollars.

  The chain for this year includes an investment of $ 250 million to strengthen its portfolio through a series of adjustments and construction of new hotels, the site reported.

 Besides the hotel being built in Panama City, the company hopes to make the cut opening in countries such as Brazil, Turkey and in the area of Varadero, Cuba.

  The process is part of a strategy of expanding to countries where they operate the hotels, considered as four and five stars.