Hotel supply outpaces demand, while the market for residencies and office buildings are faring better.

BY ERIC SABO

PANAMA CITY --  A record number of tourists in Panama has not been enough to fill the dizzying amount of new hotels being built, which outpace even Brazil as the region's biggest economy gears up for the World Cup and Olympics.

Panama will have the largest hotel growth in Latin America at 39 percent if all 4,700 rooms are completed as planned this year, compared to 10 percent growth for Brazil, according to data compiled by STR Global.

The boom is centered in Panama City and comes on top of the recently opened Trump Ocean Club, Latin America's tallest hotel and apartment complex at 70 stories. The equally massive Hard Rock Hotel, with ...

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Keywords: CBRE Group, Hyatt, Marriott, Newland International Properties Corp,  Panama Equity, Starwood Hotels & Resorts