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Flood of tourist arrivals sustains high room rates in Panama’s new hotels

Monday, December 20, 2010

Despite a 71 percent increase in the number of hotel rooms in Panama, there is no sign of any lowering of the rates they charge.

When major international hotel chains began to invest heavily in Panama, many in the business expected a collapse in prices charged by tourists.

But rates remain high despite the arrival of 1.7 million tourists this year, an increase of 200,000 compared with 2009.

Original source (in Spanish): La Prensa