The Rio Hato Airport currently has the Pan American Highway running across it but soon there will be a tunnel under it and it will be improved as one of a few International Airports here in Panama. As we mentioned last week about David and the new International Airport being built there, this one will also be a game changer for the market area.
In recent years, more than $300 million has been invested in the hotel sector along the coastline of Punta Chame and Rio Hato. Employers in the hospitality industry are betting on the growth of the area, in which several hotels are already operational and several others are expected to open in the coming months.
The growth experienced by this area is not new. Since 2001, five resorts have been built, which along with the existing hotels, now means there are a total of 3,500 rooms for tourists. While Punta Cana is much larger (I lost track after counting 50,000) it is a model of what will happen in the future. When the airport opens, they can park 7 jets on the tarmac and transfer 1,400 guests at a time by bus to all inclusive resorts, most of which will be within an hour of the airport. Rotate that daily for the week long all inclusive packages that they sell and the numbers add up fast. There is still plenty of real estate out there and I know of a great parcel of 70 hectares if you are interested.
While industry representatives are satisfied with the performance shown by the area in terms of tourism, many believe that there is room for further growth. The projects that have begun to develop are proof of this, such as the Casamar Marriott hotel, which will be on a five-acre property in the area of San Carlos. This hotel, which represents an investment of $40 million and will be ready in 2014, will offer a hotel tower as well as apartments and villas.
It is hoped that the opening of the airport in Rio Hato, which has required an investment of $52 million, will increase the development of the area and attract even more tourists.
In an article on prensa.com Maruquel Galvez, manager of RG Real Estate, which owns the Playa Blanca and Royalton Hotels, formerly Nikki Beach, said that “the Pacific beach area is still on the rise, and needs new products to capture the attention of tourists looking for more than a beautiful beach. Although he gave no further details, two new beach hotels are planned, and should begin operations in 2013. He points out that great beach destinations, such as the Mayan Riviera, only saw tourist numbers grow once they had built an international airport. The airport will be built by Costa Rican company Meco, for a total of $52 million, and is due to open in late 2013.”
