tourism

Ipat approves 27 hotels, 22 more in the pipeline

The tourism agency has approved projects that will result in investments totaling $472.

Investment in the hotel industry is expected to jump by 40 percent from 2007 to 2008.

ÁLVARO URIBE/LA PRENSA

going up: Tourism officials are upbeat about the continued interest in expanding the number of hotel rooms in Panama City. 1068991

Between January and July, the Instituto Panameño de Turismo (Ipat) adopted 27 draft plans by hoteliers that will result in an investment of $472.3 million, according to a report of the Dirección de Desarrollo e Inversiones Turísticas del Ipat.

In addition, the report recorded 22 more proposals that are currently awaiting approval. Together, these projects will generate 10,728 jobs and bring 7,270 new rooms to the country. The total investment is projected to be $931.2 million, a 40 percent increase from the 48 projects that Ipat approved in 2007. Those projects were valued at a total of $664 million.

Jorge Loaiza, presidente de la Asociación Panameña de Hoteles (Apatel), said the new projects will provide some relief to the current shortage of hotel rooms in the country, but warned that the proposed projects “have not satisfied all of the demands for hotel rooms in the country.”

In fact, Loaiza said that he is aware of “three or four” other planned projects whose plans have not yet been forwarded to Ipat.

One problem is that the vast majority of the plans being received by Ipat, which must approve hotel projects, call for projects in or near Panama City. Of the 27 that have been approved, 21 are located in the city, meaning an economic impact there of $432 million. Those projects promise to create 3,420 rooms and 2,868 jobs.

Ipat has approved one project in the province of Coclé, a 192-room hotel involving an investment of $27 million and could generate some 300 new jobs.

There have been two new projects approved for Bocas del Toro. These projects entail the construction of much smaller facilities, as the total investment is estimated at $7 million. The projects are expected to create an estimated 50 jobs and 159 rooms.

Even smaller-scale projects are slated for Chiriquí, where plans have been approved for two hotels. Together, these facilities will cost $5.7 million to develop, and will create 40 jobs and 100 rooms.

Loaiza pointed out that the interior of the country continues to lag behind Panama City in terms of hotel development. He said that there is a growing gap between facilities available in rural communities compared to one available in the capital.