Canada and Panama Work Together on a $40 million Hotel Investment to be Called the Pullman Panama City Hotel.
The ATP administrator, Gloria De León, along with representatives from MICI and the hotel and real estate company Mercan, Accor and the architecture firm Mallol.
The group will develop Pullman Panama City by remodeling an existing property in Bella Vista, in partnership with the French chain Accor, owner of the Pullman Hotels & Resorts brand. To that end, they acquired the old Sonesta hotel in Obarrio, which had been closed for about six years. The project includes over 300 rooms, distributed among 180 hotel rooms and 126 executive suites, as well as restaurants, bars, meeting areas, co-working spaces, a gym, a spa, and other facilities.
The opening is scheduled for 2028. Jordi Vilanova, president of Mercan Properties, explained in an news interview that the initial investment for the renovation is around $40 million and that the intention is to turn the property into a complex that has activity beyond tourist accommodation. “Our goal is for this to be a center, not just a hotel center, but a center for Panamanians as well,” said Vilanova.
The executive explained that the project will include restaurants, meeting rooms, and a spa, among other features. The operation also represents the recovery of a hotel asset that, according to the general administrator of the Panama Tourism Authority (ATP), Gloria De León, remained closed for approximately six years. The property will be rehabilitated and architecturally reinterpreted by the Panamanian firm Mallol Arquitectos.
Unlike a traditional hotel, the project will include 126 individually owned executive suites, operating under a condominium ownership structure and subject to the development’s management agreements and standards. This component introduces the model of residences linked to hotel brands, a segment that is gaining traction in various markets. Mercan also has another real estate investment planned in Panama. Vilanova indicated that the group is promoting a project of more than 200 apartments in Santa María, although during the interview he did not specify the investment amount, construction schedule, or additional features of that development.
An investment of nearly $40 million will mark the entry of the Canadian-based Mercan Group into the hotel business in Panama. The Canadian group Mercan will transform a hotel building in Bella Vista to develop the Pullman Panama City hotel, with more than 300 rooms and suites. The hotel infrastructure is in the heart of Obarrio. The opening is planned for 2028 and is part of a larger project that includes more than 200 apartments in Santa María.
