• Costa Rica Real Estate

Barceló hotel chain expands into Panama with 10-year lease of the Occidental

April 1, 2016

The Barceló hotel chain, owner of the Hotel Barceló San José Palacio, expanded into Panama on Friday with the acquisition by lease of the 4-star, 143-room Occidental Panama City.

The Occidental is located in the Panama City business district, in the prestigious Obarrio neighborhood. Catering primarily to business people, it has two restaurants, a night club, a business center, a fitness center and two meeting rooms.

“We intend to keep expanding our presence in Latin America,” said Álvaro Pacheco, communications director for Barceló Hotels & Resorts. “As for the clientele at this hotel, we would be delighted to welcome all Costa Rican citizens who visit Panama, whether for pleasure or business.”

A room at the Occidental Panama City.

(Courtesy of Occidental Panama City)

The Spain-based Barceló chain, which has recently been expanding in Europe, has a total of four hotels in Costa Rica, seven in Central America and 39 in all of Latin America. It signed an agreement with the company Dilido Panama S.A. to incorporate the Occidental Panama City under lease for 10 years, effective Friday.

The deal brings to 19 the number of countries in which Barceló, the world’s 42nd-largest hotel chain, has a presence. It now has 106 properties and about 33,000 hotel rooms. It also has a 40 percent interest in Crestline Hotels & Resorts, a U.S. hotel management company with a portfolio of 100 properties.

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