Katz points out that the opportunity for hotels in PIMM is one of the best in the world right now and the facts prove it.
• PIMM is the largest merchandise mart in Latin America and offers access to 566 million customers.
• PIMM will receive over 7 million visitors per year.
• Panama is the hub for international business in Latin America and is a popular tourism destination. As a result, over 1.2 million persons came to the country last year and the numbers are expected to increase yearly.
• Panama is now second in the world in terms of hotel occupancy at 84.7%, and is experiencing an acute lack of hotel rooms nationwide.
• Finally, PIMM is located approximately 40 minutes from both Panama’s Tocumen International Airport and Colon Free Zone.
PIMM requires 3, 4 and 5 star hotel facilities with 300, 400 and 500 rooms each respectively. Valuation is set at $30, $40 and $50 million. Hotel concessions are structured such that PIMM will sell the hotel owner land in PIMM outright for 10% of the construction cost and the owner will share 6% of monthly operating costs with PIMM.
“Building your hotel in PIMM is a win-win proposition for everyone involved. Start up and operation costs are low, and potential revenue is literally enormous. We only have four concessions open so the time to cut a deal is now. I am ready when you are,” finishes Katz.
To begin your concession process, contact Reynald H. Katz at r.katz@pimm.com.
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The Panama International Merchandise Mart (www.pimm.com/)
