Hyatt Regency has announced plans to open its first hotel in Panama City in the summer of 2024.
The Hyatt Regency Panama City, the third Hyatt hotel in Panama, will be in the heart of the business district, with easy access to the Multiplaza shopping mall and the new Amador Convention Center. The Hyatt Regency brand seeks to attract a mix of business and leisure travelers, with a full range of amenities.
The news also represents another sign of the growing international interest in Panama, with all the big chains expanding their presence. Panama City has been identified as a key growth market, thanks to its rapidly expanding economy and tourism segment.
Hyatt, in collaboration with Hotel Properties of Panama Inc., is investing in “a multi-million-dollar renovation” to open the Hyatt Regency Panama City, which will offer “382 guestrooms and suites spread across two towers, as well as a pool, state-of-the-art gym, variety of restaurants including a wine bar and coffee shop and 20,000 sq ft. of meeting and event space including two ballrooms, an outdoor terrace for events and a Hyatt Regency Broadcast Lounge, allowing guests the option to attend a live conference in a hybrid manner,” according to a press release.
Hyatt also operates the much-discussed renovation of The Hotel La Compañía, a UNESCO World Heritage in Casco Viejo. The hotel, built around a building that served as a Jesuit convent in the 17th century, has been attracting international publicity for its luxury and taste of local history. The Hyatt’s other hotel is the Dreams Playa Bonita, a popular resort west of downtown.
“We’ve seen strong demand in travel to Central America, especially as [people]… seek both relaxing leisure vacations and exciting new options for meetings, events, and corporate travel,” said Camilo Bolanos, senior vice president of development, Latin America & the Caribbean. “The Hyatt Regency Panama City will give travelers the opportunity to explore an urban destination with deep historic roots while giving them the resources and exceptional service needed to have a seamless, intuitive stay experience.”