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November 22, 2011updated Feb 11, 2013

International Hotel Chains Invest in Panama

By Pardhasaradhi Gonuguntla

Panama City, Panama – Reported by Elite Traveler, the private jet lifestyle magazine

In response to the nation’s major tourism boom, global hotel groups—including Hilton, Starwood and Trump—have set their sights on expansion into Panama. Thanks to an influx of desirable new properties opening in 2012, Panama is expected to reach an occupancy rate of more than 24,000 rooms.

In its first investment outside North America, the Trump Hotel Collection has launched the Trump Ocean Club International Hotel & Tower Panama. Perfect for elite travelers, the five-star, 70-story property is the tallest building in Latin America, offering impressive Pacific Ocean views and stunning architecture.

Starwood will increase its presence in Panama with the opening of two Westin hotels in 2012, in addition to an Aloft hotel in Panama City slated for a January 2013 opening.

“Panama as a destination has grown tremendously in the last four years. The multi-million dollar investment being made by international hotel chains shows not only the level of confidence in the country’s tourism development, but also the ability to create the conditions to meet the demands of a growing number of visitors,” said the country’s Vice-Minister of Tourism, Ernesto Orillac.

Visit www.visitpanama.com.

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