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Canadian investment and real estate development firm Mercan Group has officially announced its first hotel project in Panama: Pullman Panama City. Representing an investment of nearly $40 million, this milestone marks a decisive step in the group’s international expansion and brings a world-class hospitality brand to the heart of the capital.

The project is being developed in alliance with the prestigious French hospitality company Accor, under its premium Pullman Hotels & Resorts brand. Set to open in 2028, the development will transform an existing hotel asset into a vibrant mixed-use destination designed to cater to international business travelers, leisure tourists, and foreign investors.

A Major Revitalization in Bella Vista

Instead of building from scratch, the project involves the complete remodeling of a former hotel property located in Bella Vista (previously the Sonesta in Obarrio), which had been closed for approximately six years.

Pullman Panama City will feature over 300 rooms, split between 180 standard hotel rooms and 126 executive suites. The property is designed to offer a comprehensive lifestyle and business experience. Amenities will include a lobby bar, a rooftop bar with a pool, multiple restaurants, a state-of-the-art gym, a wellness center and spa, coworking spaces, and versatile meeting and event halls. It will also integrate gaming and entertainment areas.

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Jerry Morgan, founder, president, and CEO of Mercan Group, emphasized the strategic importance of the destination. “Pullman Panama City represents much more than our first hotel project in the Panamanian market; it is an opportunity to put our international experience at the service of a country with immense connectivity and stability,” Morgan stated, highlighting Panama’s clear global vocation and capacity to attract foreign capital.

Connecting Hospitality with Foreign Investment

Beyond traditional tourism, this development plays a central role in Panama’s foreign investment strategy. Mercan Group holds an official partnership with the Government of Panama to actively promote the Qualified Investor Visa program worldwide.

By investing in Pullman Panama City’s executive suites (with prices starting at $324,000), international buyers can qualify for Panamanian residency through a fast-tracked process that takes about 30 business days. The project offers a unique proposition that combines world-class real estate with guaranteed rental returns, a dollarized economy, and a direct path to residency.

As Panama projects an 8.4% growth in tourism for 2026 and continues to break visitor records, the arrival of the Pullman brand signals strong confidence in the country’s long-term economic and logistical potential.

5 Things to Know

Mercan Group is investing $40 million in its first Panama project.
The Canadian firm is entering the Panamanian market with the highly anticipated Pullman Panama City hotel.The hotel will be managed by Accor’s Pullman brand.

Set to open in 2028, it brings the prestigious French hospitality brand to the country’s capital.

It revitalizes a key property in Bella Vista.

The project will transform a closed hotel asset in the Obarrio/Bella Vista area into a modern, 300+ room mixed-use complex.

The project caters to the Qualified Investor Visa program.

Foreign investors purchasing executive suites can access fast-tracked Panamanian residency through Mercan’s official government partnership.

It will offer premium business and leisure amenities.

The development features a rooftop pool, coworking spaces, a wellness center, meeting rooms, and gaming entertainment areas.