Current Status
Central America, Panama and especially Panama City are characterized by increasing touristic growth and a never before seen building boom. Contributing factors are the expansion of the Panama Canal to accommodate larger container ships and the overall stability of the country. In addition, Panama City has become a centre for financial services and offshore-corporations in Latin America. In the wake of Costa Rica’s development and with the resumption of direct flights from Europe (Iberia and KLM), Panama is rapidly becoming more and more attractive for the international tourism market. At present, there are no hotels in the “Casco Viejo”, only apartment buildings, some restaurants and bars. Tourists from all over the world however estimate the cosy surroundings, away from the bustle of the downtown area of the Newtown with the modern high-rise buildings and the everyday hotels.
Mandate
Investigation of investment opportunity and feasibility analysis for the construction of a 10-12 room boutique hotel with bistro-bar and roof-top lounge in the historic district of Panama City, a UNESCO-landmark.
The property sits on a spectacular location on the peninsula of Caco, near the French embassy. All rooms offer ocean views and across there is a small park. Basically, there is the possibility to have 5-6 rooms on each of the two upper floors. On the roof, there is ample space for a Bar/Lounge. In the ground floor there is the administration, Lobby and Cafeteria.