Luxury private villas surge in Panama as hotel occupancy stays at 57.9%

Panama ended 2025 with record tourism arrivals and revenue, but hotel occupancy averaged just 57.9%, highlighting demand shifting toward private villas and full-property rentals. Eden Ubedi in San Carlos says its two-person boutique villa is booking weekends one to three months ahead, with a second property set to open in July 2026. Why it matters: - Panama’s tourism growth is not flowing only through hotels. - The gap between record visitor counts and 57.9% average hotel occupancy points to a fast-growing private-rental segment that standard hotel metrics do not capture. - That shift changes where tourist spending lands, with more money going directly to villas, restaurants, transportation and local services in beach destinations near Panama City. What happened: - Panama closed 2025 with 3,004,266 international visitors and $6,583 million in tourism revenue, up 8.2% and 9.7% from 2024, according to the Autoridad de Turismo de Panamá. - The same official report put average hotel occupancy at 57.9%. - Eden Ubedi, a boutique villa in San Carlos, says its weekends are sold out one to three months in advance. - The property targets couples and other travelers seeking a fully private stay rather than a shared hotel experience. The details: - Eden Ubedi spans 150 square meters and is limited to two guests. - The villa charges from $179 per night for the entire property, not per room. - The standard setup includes a private pool, jacuzzi, equipped kitchen and Starlink satellite internet. - The top package, called “Sublime,” costs $790 and includes a butler and private dinner. - Robert Kersbergen, founder of Eden Ubedi and a Panama resident for more than a decade, said the 57.9% hotel occupancy figure does not mean fewer travelers are arriving. - Kersbergen said those travelers are staying in another format and still spending on lodging, restaurants and transport. - Eden Ubedi does not allow children, babies, events or parties. - The company says those limits help concentrate demand from anniversaries, honeymoons and weekend getaways for couples. - The second property, Nomara, will allow up to four adults plus children and babies while keeping the private-property model and exclusive pool. - Nomara’s waiting list is open on Instagram at @nomaraprivada . - Eden Ubedi is in the San Carlos beach area, three minutes from the Interamericana highway and five to 10 minutes by car from three beaches. - The villa includes a King XL bed, private pool, jacuzzi, movie screen, equipped kitchen, Starlink internet, private parking and a fenced garden. - Eden Ubedi allows up to two pets at no extra charge. - Check-in starts at 3:00 p.m., and check-out is by 11:00 a.m. - Reservations are handled directly through the website and WhatsApp, with availability posted at the calendar . Between the lines: - The private-villa trend is being helped by Panama’s use of the U.S. dollar, direct air links to cities including Miami, Houston, Orlando and New York, and alignment with U.S. Eastern time for much of the year. - U.S. travelers also do not need a visa for tourist stays. - America South led Panama’s source markets in 2025, but operators say the U.S. market is growing inside the private-rental segment. - The product is built around scarcity and exclusivity, not volume. - That makes the business model very different from a hotel, where occupancy is the main performance metric. - Tourism accounts for about 8% of Panama’s GDP and around 10% of employment, according to Promtur Panamá. What’s next: - Eden Ubedi plans to add Nomara in July 2026. - The company expects the second property to broaden its market while keeping the same private-stay concept. - If demand for luxury private rentals keeps rising, hotel occupancy alone will remain an incomplete measure of tourism performance in Panama’s coastal markets. The bottom line: - Panama’s tourism boom is increasingly showing up in private villas, not just hotels.