Full Description

This project is located in the city of David, Panama’s third largest city. David is the entryway into the picturesque town of Boquete, long hailed as one of the top retirement destinations in the world, as well as Volcan, the next up and coming area in Chiriqui.

David currently has no flagship hotels, yet tourism and relocations to the area are increasing exponentially, as well as real estate values.

The Best Western will be located in the former Panama Rey Hotel, and just two blocks from the Gran Nacional Hotel (currently David’s top hotel, with rates of approximately $80/night).

It is located on the main road to town from the airport, just two blocks from the town center. As the largest building in David, tourists and visitors will be easily drawn to the David Best Western. The entire building will be refurbished to four star style, finishes and amenities.

David currently has no flagship hotels, yet tourism and relocations to the area are increasing exponentially (as well as real estate values!) The David Best Western Condo Hotel will build on solid market fundamentals to provide investors excellent returns.

Hotel amenities will include:

• 7th floor Sport Bar and Restaurant
• Casino
• Fitness Gym
• Executive Lounge
• Junior Suites
• Master Suites

Room Rates
Junior Suite $ 69.00 plus tax
Master Suite $ 79.00 plus tax

We are forcasting 80% of Occupancy as major competitor Hotel Gran Nacional but we have to assume only 60% occupancy that is the National average in Panamá

Maintenance Fee
$ 2.00 per square meter/monthUtililities
$ 45.00 to $ 55.00 per month, based on unit size (electricity)

Income Split
70% Owner/Investor- 30% Hotel Operator