Hotel glut creates bargains in Panama City
Wednesday, June 1, 2016
A glut of hotel rooms in Panama City is translating into great deals for visitors. Room rates are at all-time lows, making a trip to Panama’s fast-growing capital a bargain compared to other popular destinations.
Overall, the average daily rate for a hotel room in Panama City dropped 4.3 percent in 2015 and occupancy rates settled at around 50 percent, after several years of declines. Top hotels like the Intercontinental, Hilton and Waldorf Astoria are promoting five-star rooms for close to $100 or less a night.
Source: Nuwire Investor