Global uber-luxury hotel chain Viceroy is confirming plans to open its over-water bungalow resort in Bocas del Toro in 2021.
This will be one of the first over-water bungalow projects offered in the region, moving Bocas into competition with places like Polynesia and the Maldives. In addition to the 42 bungalows, the 457-acre resort will include 186 guestrooms and residences, eight onsite restaurants and a spa.
Beyond the new addition to the hotel mix, Viceroy’s move introduces another top-rated brand committing to the Panama market. On one level, it illustrates the growing international confidence in Panama and the opportunity for growth in the high end of the business. And then there’s the power of the brand to improve the market in general, raising all boats.
We see the impact of the big brands in Panama City all the time. The YOO has delivered real results, often at difficult times, in part due to the power of the brand. We’ve also seen the impact the JW Marriott has had on the former Trump Ocean Club. Almost overnight, the perception of the complex changed, thanks to the tradition and quality of the brand’s reputation.
Brands like Viceroy and YOO bring respect, marketing dollars and dedicated fans to any market they enter. In many ways, they operates as seals of approval for any hospitality or residential project, ensuring that the chain’s standards will guide the quality of the finished product.
In the uber-luxury market, Viceroy joins Ritz Carlton in planting its flag in Panama. The Ritz Carlton Reserve in development on Pearl Island will be a game-changer for Panama, with an exclusive hotel property on a lush, private island easily accessible from Panama City. Under one of the chain’s most elite brands, the hotel and residential complex will offer the type of high-end destination that can’t be found anywhere else in Latin America.
Viceroy describes itself as “a leader in modern luxury” and promises guests “one-of-a-kind authentic lifestyle experiences that bring together provocative design and intuitive service in sought-after locations.” The Bocas del Toros resort was originally announced in 2016, but these things typically take some time to evolve.
The project will feature “the Viceroy vibe, with a tropical twist,” the company says on its Web site. According to the original press release, the property is being designed by Zurcher Arquitectos in Costa Rica, with interiors by Wimberly Interiors.