BRIEFS. tourism

Apatel asks for playa bonita ruling

The Asociación Panameña de Hoteles (Apatel) has asked the Ministerio de Economía y Finanzas (MEF) to clarify the situation regarding the Intercontinental Playa Bonita Resort.

In a letter addressed to the ministro of Economía y Finanzas, Héctor Alexander, and copied to Instituto Panameño de Turismo (Ipat) director Rubén Blades, Apatel said that the situation has rattled investor confidence in the country's real estate industry. The letter added that legal stability is one of the major concerns of people looking to invest in the local market.

Sources from the MEF said the case is being evaluated and that the agency will not rush to judgement because of the potential legal ramifications.

The situation arose when a court called into question the government contract that awarded the concession to build the resort to Paradise Beach Corporation. After the contract was issued, a competing developer filed a lawsuit saying that the agency that awarded the contract, the Autoridad de la Región Interoceánica (ARI), improperly changed the bidding specifications.

The court recently issued a decision in the case, upholding the complaint.

It remains unlcear what impact that decision will have on the resort, which is already up and running.