Accelerating portfolio growth in Latin America, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced the opening of its second Westin hotel in Panama. Ideally located in Costa del Este, Panama City's newest, upscale corporate and financial center, The Westin Panama is the third Starwood property developed and operated by Bern Hotels & Resorts, Panama's largest hotel developer and operator.
With the opening of The Westin Panama, Starwood Hotels now has seven hotels in Panama.
"We are delighted to expand our partnership with Bern Hotels & Resorts and open another spectacular Westin hotel in Panama, Latin America's fastest growing market and a strategic business hub," said Osvaldo Librizzi, Co-President of Starwood Hotels & Resorts Americas. "In the past few years, Starwood has emerged as one of the leading global hospitality companies in Panama, which is experiencing an influx of foreign investment and large-scale infrastructure improvements, including the soon-to-be-completed enlargement of the Panama Canal."
The Westin Panama boasts 218 rooms, including 45 suites, world-class dining and 14,460 square feet of state-of-the-art meeting and function space. The newly constructed hotel is a key element of the Costa del Este financial center, which includes several luxurious real estate developments, numerous multi-national corporate offices and a boardwalk lined with shops and restaurants. Costa del Este is just 15 minutes from downtown Panama City and less than 30 minutes from Tocumen International Airport via the Corredor Sur.