W Panama Hotel will be opened March 1, 2018
Another top international hotel brand is ready to plant its flag in Panama City. A W Hotel will open in the financial district on Jan. 23, marking the first W in Central America.
The W is one of the most distinctive brands owned by Marriott International, the largest hotel company in the world, which includes the Ritz Carlton, St. Regis, Westin and JW Marriott chains. This will be the ninth hotel in Panama for the company, which acquired Starwood Hotels & Resorts in 2016.
«As part of Starwood’s overall growth strategy, we continue to focus on expanding our nine leading brands into vibrant cities around the world, such as Panama City,» then-Starwood executive Ricardo Suarez said when the W was announced.
The hotel conglomerate’s investment in Panama City is an example of the international company’s confidence in the market. Vacancy rates for hotel rooms in Panama City have been soaring in recent years, after a surge in new construction led to an over supply of rooms. That’s good news for travelers—room rates are a bargain—but tough on the hoteliers.
The opening of the W demonstrates that Marriott recognizes that Panama’s growth will soon absorb the over-supply. W Hotels are popular with business travelers, as well as tourists. And the government has made a commitment to increase spending on marketing Panama around the world, which should boost the tourism numbers. The recent opening of Panama to the China market should also fill up more hotel rooms, as Chinese travelers—the largest group of travelers in the world—discover the wonders of Panama City.
«Panama continues to see strong growth in both business and tourism development given its strategic location between North and South America and ease of access from around the world,» Starwood co-president Osvaldo Librizzi said in a statement last year. «We are confident that this first W in Central America will become a new landmark in the city.»
The 203-room W is located in the 50-story Evolution Tower, a mixed-use building with office space. The hotel will include 32 suites and rates will start at $185 a night, according to the hotel’s website.
W Hotels were «born from the bold attitude and 24/7 culture of New York City,» the company says on its website. The chain’s mission is to «fuel guests’ lust for life.» The expanding chain expects to reach 75 hotels around the world by 2020.
Panama is quickly becoming a popular destination for holding conventions and international events. A modern infrastructure, which is often cited as the best in the region, direct flights to more than 50 cities in the region and 13 in the U.S, world-class attractions nearby, meeting facilities, hotels, excellent restaurants, a globalized populace, and a vibrant metropolis with more than 100 banks and exciting nightlife, all make Panama the perfect place to host first-class events. Text source: puntapacificarealty.com
No matter what you’re looking for…in terms of climate, budget, convenience, or anything else… Panama is likely to check all the boxes.
Panama is located at the center of Latin America, at the very point where Central and South America meet. It is home to one of the world’s fastest growing economies, which is built largely on the country being a primary provider of financial, logistic and commercial services to all the nations of the region. Its central role in Latin America is vested in its being a business friendly nation, and that is complemented by its attractive and comfortable lifestyle.
Panama is a captivating mix of the historical and the modern, the natural and the manmade, the indigenous cultures and the international.
Since Panama is historically a crossroads, people and cultures from all over the world meet and mix here, resulting in friendly atmosphere, fantastic restaurants, galleries and cultural events showcasing the world’s best art, cuisine, and more. Panama has none of the disastrous hurricanes and earthquakes that plague its Central American neighbors.
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