IHG (InterContinental Hotels Group) announced the signing of a franchise agreement for the construction of a new Holiday Inn Express hotel in Panama City. The property will belong to Latin American Hospitality Management Inc., the hotel division of the Agrisal Group, which is headquartered in San Salvador, and will be managed by the same company under a licensing agreement with a company of the InterContinental Hotels Group.
The Holiday Inn Express Panama City, scheduled to open in July 2012, will have 198 rooms and 12 floors, and is the fourth of seven IHG properties already opened or under construction through a strategic agreement between IHG and Agrisal's hospitality division.
The three properties already opened under this agreement include the Holiday Inn San Jose Escazu, in Costa Rica, and two properties in El Salvador, the Holiday Inn San Salvador and the Crowne Plaza San Salvador.
"We are pleased to bring the Holiday Inn Express brand to Panama City, as well as expand our relationship with the Agrisal Group. The signing of the new Holiday Inn Express will continue to expand IHG's representation in this important capital city," said Jim Anhut, IHG's managing director of development for the Americas.
