Panama obtains second place in hotel occupancy in the world

In 2007, Panama climbed up from the 30th position to the second index of hotel occupancy in the world, becoming the first city of Latin America in reaching an occupation within the Deloitte Global Ranking Index GRI

panama city4The document also indicates that Panama reached the RevPAR growth entry average by room available most solid of Central America and South America with more than 37.9%. Deloitte Touche Tohmatsu presented the results during the fifth edition of his annual GRI report that compares the performance of 165 cities outside North America.

The study reveals that the first place goes to the city of Perth in Australia with a result of hotel occupancy of 85.1%, replacing the city of Brisbane from this position in the same country and that was located in fourth position with an 84.3% of hotel occupancy. Second place was given to Panama with 84.7% of hotel occupancy and replacing the city of Melbourne, Australia that fell to ninth place in 2007 with an 83.1% See Ranking . The document clarifies that to complete this report information of the Hotel Benchmark Survey database, which at the moment follows the implementation of more than 7,800 hotels around the world, excluding North America.

The study indicates that most of the hotels that participated in the survey they are classified as three stars and more. In this analysis they have included those hotels that additionally have been able to provide data from the year 2000. According to the document, in Latin America, Panama is the country of fastest economic growth, with an increase of Gross National Product GNP of more than 10% in the last year.

Secure Destination

skyone tower12This isthmus that also unites to Central America and South America is considered a relatively secure destination, unlike some neighboring countries. As a result of this, the number of visitors has increased during the last decade. The World Tourism Organization of OMT indicates that during 2007, this increase was of 27%. Its political stability is of attraction for EE.UU. tourists and investors, as well as for long distance travelers from Europe who want to explore new destinations in the region. The study explains that Panama is the only city in the world that has a tropical forest inside of its borders, as well as beaches and an impressive port.

Jorge Loiza, president of the Panamanian Association of Hotels Apatel , indicates that this is a great step for the country in achieving the second position at world level in hotel occupancy and that “we must feel proud to ascend to this position”. The investments in the country like the expansion of the Panama Canal, the Coastal Strip and other projects have caused Panama to be a positive tourist destination, said Loaiza. Annette Cardenas, trade manager of Marriott hotel indicates that the hotel industry of Panama has increased much in the last three years due to a great amount of factors among which she mentioned the real estate boom that has happened because of international advertising. In addition the use to the dollar, the tourist advertising of Panama as destination and of the efforts of the Panamanian Institute of Tourism IPAT and the private sector hotelkeepers, operators of tourism and others has helped the country to be placed in the world-wide ranking of GRI.
Occupancy Global Ranking index 2007

Source: Hotel Benchmark Survey by Deloitte


Other Data

skyone tower1The study also indicates that Panama also reached the RevPAR growth entrance average by room available most solid of Central America and South America with more than 37.9% to US$121. In Central America and South America the RevPAR increased of 19.4% to US$74 in 2007, becoming the region with the most accelerated growth in terms of RevPAR.

Caesar Chong, managing partner of Deloitte said that “approximately 900 million people traveled around the world during 2007; globally the hotel sector has benefitted numerously by this increase. Most of the regions have reflected a solid economic growth, particularly in Central America and South America, reinforced specially by travelers of the U.S.A.

Making forecasts for 2008, Chong said “the global scene for the hotel industry is promissory. During 2008 there will be numerous amounts of sporting events around the world that will attract thousands of travelers, particularly to the Olympic Games in Beijing.

The great progress in the aviation industry, including the expansion of low cost airlines and the introduction of the Airbus A380, will also allow travelers to mobilize themselves more easily by the world. Panama continues positioning itself as a place of great expectations for the tourist, looking to offer greater facilities and better treatment to the tourist”.

According to the World Tourism Organization most of the travelers of the world chose Europe as its favorite destination during 2007. The European cities continue leading in terms of RevPAR occupying 12 of the 20 positions of the GRI. In spite of this record the growth of the tourism in other parts of the world raises a challenge for the European cities that look to maintain their high positioning next year. Globally, Venice occupies the first position in RevPAR, fifth GRI slot for a consecutive year with an increase of RevPAR of 22% to US$265. Rome, Florence and Milan also were between the 20 best placements, Italy being the country with more cities considered in the world.