Posted 2/27/2013 - 9:51:16 AM
PANAMA CITY, PANAMA—An affiliate of Hyatt Hotels Corporation and the Malca family have formed a joint venture to develop and own two hotels in the master planned community of Costa del Este here.
The hotels will be branded Hyatt Place and Hyatt House. This will be the first Hyatt House project in Latin America.
The 168-room Hyatt Place Panama City Costa del Este and the 120-room Hyatt House Panama City Costa del Este will be part of a mixed-use development that will also include approximately 118,000 sq. ft. of commercial space containing both retail outlets and offices. The hotels will be located in adjacent towers.
Construction of the project will begin later this year. Both hotels are expected to open in early 2015. The hotels will be the second and third Hyatt-branded hotels to open in Panama City, joining Hyatt Place Panama City, which is expected to open later this year.