JW Marriott Panama

JW Marriott Panama
JW Marriott Panama
General information
Type Hotel, Condo, Residential, Office Tower & Commercial Retail
Architectural style Postmodern
Location Punta Colon, Punta Pacifica, Panama City, Panama
Construction started 2007
Completed 2011
Cost US$400 million[1]
Height
Tip 293 m (961 ft)
Roof 284.4 m (933 ft)[1]
Technical details
Floor count 70[1]
Floor area 252,000 m2 (2,710,000 sq ft)[1]
Lifts/elevators 37
Design and construction
Architect Arias Serna Saravia S.A.
Developer Espacios Urbanos, K Group, Trump Organization
Website
https://www.marriott.com/hotels/travel/ptymj-jw-marriott-panama/

The JW Marriott Panama (formerly The Bahia Grand Panama, before that Trump International Hotel & Tower Panama, and before that Trump Ocean Club) is a 70-storey, 2,710,000 sq ft (252,000 m2), mixed-use waterfront hotel and condominium tower development in Panama City, Panama, in the area of Punta Pacífica. It opened in 2011 as the first international "named branded development" of the Trump Organization. At 70 stories, it is the tallest building in Panama[2] and the tallest building in Central America.[3]

Building

The project was designed by Colombian architects Arias - Serna - Saravia S.A.[4] It includes a five-star hotel of 369 hotel condominium units, 628 residential condominium units, 1500 parking spaces, 36 retail shops, 10 story Office Tower a 75,000-square-foot (7,000 m2) casino operated by Sun International,[5], daily ferry service to the Pearl Islands, yacht club and pier, wellness spa, gym, pool deck, meeting and event spaces, and a business center.[6]

The 13-storey base is topped by a tower resembling the Burj Al Arab, a hotel in Dubai, United Arab Emirates;[6][7] before its completion the developer asked for a preemptive injunction against lawsuits by Jumeirah Group over the similarity.[8]

When built, the tower was the tallest building in Latin America; as of 2008 it remains the tallest in Central America and still remains the largest mixed use building of its kind in Latin America.[6]

History

The building was developed by Roger Khafif, President of the K Group, a Panama resort developer and three Colombian partners by Newland International Properties Corp. The hotel opened on July 6, 2011.[1] In September 2011 Fitch Ratings downgraded $220 million in bonds that Newland International Properties Corp. was using to finance construction of the building from B-sf to CCsf because of "continued uncertainty over the willingness and ability" of buyers to take possession of apartment units.[9]

Newland licensed the Trump brand name;[8] the hotel was the first international Trump "name branded" development to open.[7] The Trump Organization managed the hotel under contract until March 2018, when Cypriot businessman Orestes Fintiklis, who had bought a majority stake in the hotel condominium association, legally ousted them and had the Trump name removed from the building in 2015 and from the hotel March 5, 2018.[10] The hotel was renamed The Bahia Grand Panama.[11]

On March 22, the Panamanian law firm Britton and Iglesias unsuccessfully petitioned Panamanian President Juan Carlos Varela to intercede and restore the Trump Organization's management team.[12][13]

On June 28, 2018, it was announced that the hotel would become a JW Marriott.[14] It was officially renamed on September 26, 2018.[15]

See also

References

  1. 1 2 3 4 5 "Trump Ocean Club International Hotel & Tower". Skyscraperpage. Retrieved July 20, 2011.
  2. ↑ Jeva Lange (May 21, 2018). "Former ambassador claims Trump was unduly concerned with the size of his Panama hotel". The Week.
  3. ↑ https://www.hotelnewsresource.com/article101807.html
  4. ↑ "Arias Serna Saravia". TrumpOceanClub.com. Retrieved November 11, 2013.
  5. ↑ Trump Ocean Club International Hotel & Tower Panama (November 29, 2012). "Trump Ocean Club International Hotel & Tower Panama announces Sun International as casino operator" (Press release). Retrieved December 4, 2012.
  6. 1 2 3 Loftus, Karen. "Review: Trump International Hotel and Tower — Panama City". Luxury Latin America. Retrieved 5 March 2016.
  7. 1 2 Brass, Kevin (15 July 2011). "Donald finally comes up trumps in Panama". The National. Retrieved 5 March 2018.
  8. 1 2 "Trump project in Panama goes to court over talk it copied design of famous Dubai hotel". The International Herald Tribune (Raising the Roof blog). 21 May 2008. Retrieved 8 January 2017 – via The New York Times.
  9. ↑ Sabo, Eric (September 21, 2011). "Fitch Downgrades Trump Hotel Builder in Panama, Citing Defaults". Bloomberg L.P. Retrieved October 2, 2012.
  10. ↑ Currud, Ana; Fahrenthold, David A. (5 March 2018). "Trump Panama hotel showdown appears to end, and the Trump name is coming down". The Washington Post. Retrieved 5 March 2018 – via San Francisco Chronicle.
  11. ↑ http://www.thenewstribune.com/news/business/article207159979.html
  12. ↑ Semple, Kirk; Protess, Ben (April 10, 2018). "Trump Company Lawyers Asked Panama President for Help in Hotel Dispute". The New York Times.
  13. ↑ Cerrud, Ana; Fahrenthold, David A. (April 9, 2018). "Warning of 'repercussions,' Trump company lawyers seek Panama president's help". The Washington Post. Lawyers representing President Trump’s company last month wrote directly to the president of Panama, asking him to intervene in a legal fight over the Trump International Hotel in the capital — and warning that the case could have “repercussions” for Panama’s reputation.
  14. ↑ https://www.hotelnewsresource.com/article100653.html
  15. ↑ https://www.hotelnewsresource.com/article101807.html

Coordinates: 8°58′32″N 79°30′26″W / 8.975556°N 79.507174°W / 8.975556; -79.507174

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