Panama: Hilton Hotel to Open Before 2011

With all the new hotels opening in Panama I wonder when the rates will drop. It is so amazing how the rates have mostly doubled in the last three years to where a decent hotel is $200 and up for a nights stay. Of course it is those high rates and high occupancies that have drawn all these hotel flags to Panama. But the fact is the property is owned by investors who acquire the flag name and management for a significant fee. I expect occupancies will drop as more competition comes online and then a rate battle must ensue. The lower rates will make it more attractive for tourism and hopefully things will balance out.

Source: pa-digital.com.pa
Tuesday, June 29, 2010

The $25 million, 213-room Doubletreee Hotel by Hilton will open by the end of 2010.

Satis Patel, president of Blue Star Hospitality, the administrator of the franchise, remarked that the hotel will employ 200 people when it opens.

“Patel commented that hotel occupancy has been low in the past two years, as a result of the global crisis, but the situation has not been as bad as in other countries where they operate”, reported pa-digital.com.pa.

Read more at the source article by Michelle Domínguez (only in spanish)