Mercan Group Announces Its First Hotel Development in Panama: Pullman Panama City

The international group expands into Panama with a mixed-use development featuring more than 300 keys, dining, wellness, meetings, and entertainment.

Panama City, August 20, 2026. MERCAN Group officially announced the development of Pullman Panama City, its first hotel project in the country and a decisive step in the Group’s international expansion across the investment, real estate development, and hospitality sectors.

Developed by MERCAN in partnership with Accor, a world-leading hospitality group, under the Pullman Hotels & Resorts brand, the project will transform an existing hotel asset in Bella Vista, in the heart of Panama City, into a mixed-use development designed for business and leisure travelers, residents, and international investors.

Pullman Panama City is expected to feature more than 300 keys, including 180 hotel rooms and 126 executive suites, as well as an event venue and a diverse selection of dining and bar concepts. Planned amenities include a lobby bar, rooftop bar with swimming pool, restaurants, fitness center, wellness center and spa, coworking spaces, meeting and boardrooms, and entertainment areas. The opening is scheduled for 2028.

A Strategic Investment in Panama’s Connectivity and Growth Potential

Jerry Morgan, Founder, President and CEO of MERCAN Group, said: “Pullman Panama City represents much more for MERCAN than our first hotel project in the Panamanian market. It is an opportunity to bring our international experience to a country where we see connectivity, stability, the ability to attract investment, and a clear global outlook. After more than three decades of developing projects and building partnerships across different markets, Pullman Panama City marks the beginning of a relationship that we intend to build with a long-term vision.”

MERCAN’s announcement comes amid strong growth in the country’s tourism activity. According to the Panama Tourism Authority (ATP), Panama welcomed nearly one million visitors during the first quarter of 2026, representing a 17.3% increase compared with 2025, as the country continues to strengthen its position in meetings, conventions, and international events tourism.

Panama’s Minister of Tourism, Gloria De León Zubieta, explained: “The arrival of this project in Panama is a clear sign of confidence in our country and in the potential of our tourism industry. Every new investment that strengthens our offering creates opportunities that extend far beyond a hotel, reaching transportation providers, producers, restaurants, professionals, and entrepreneurs. At ATP, we want to continue promoting tourism that translates into investment, employment, and real opportunities for Panamanians.”

MERCAN Group’s market research highlights the recovery observed in the premium segments of Panama City’s real estate and corporate markets, as well as the international growth of the branded residences model.

In this context, Jordi Vilanova, Vice President of MERCAN Group, stated: “Choosing Panama reflects a strategic vision. We are looking at an internationally connected economy, with an exceptional geographic position and the capacity to continue attracting business, tourism, and investment. For MERCAN, developing here means creating value beyond the real estate asset: it means working with local professionals and suppliers, generating economic activity throughout the rehabilitation and construction phases and, subsequently, contributing to a hotel operation that becomes integrated into the city’s economy.”

“The signing of Pullman Panama City represents an important step in the expansion of Accor’s portfolio in Latin America. Thanks to its strategic location, the hotel will respond to the needs of both business and leisure travelers in one of the region’s most relevant urban destinations. We are confident that Pullman brings together the right combination of a strong international brand, a contemporary hospitality proposition, and robust commercial capabilities to maximize the potential of this project,” said Abel Castro, Chief Development Officer, Accor Americas.

Hospitality, Ownership and the Redevelopment of an Urban Asset

Pullman Panama City will mark the arrival of Pullman Hotels & Resorts in the Panamanian market and further strengthen Accor’s presence in Latin America.

Pullman Hotels & Resorts is one of Accor’s leading brands, inspired by the exchange of ideas, contrast, and energy. With more than 150 hotels and resorts across more than 40 countries, Pullman creates gathering places where people, cultures, and ideas come together. More than a hotel, Pullman is a meeting place where international travelers and creative minds connect, collaborate, and discover new perspectives.

In addition to the hotel component, the development will include 126 individually owned executive suites, integrated into the project’s overall structure and subject to the horizontal property regime, the corresponding management agreements, and applicable standards.

One of the development’s distinctive elements will be the rehabilitation and reinterpretation of the existing building, led by Panamanian architecture firm Mallol Arquitectos.

With Pullman Panama City, MERCAN Group aims to bring to Panama the experience and expertise accumulated over more than three decades of success in international markets, while establishing a platform to continue building long-term relationships with investors, professionals, authorities, suppliers, and local partners.

This experience is supported by a track record encompassing more than 30 hotels and projects, the participation of more than 4,100 international investors, and more than USD 2 billion in cumulative investment.

About MERCAN Group

Founded in Canada in 1989, MERCAN Group is a global company specializing in investment, international mobility, employment, education, and real estate development. With more than 35 years of experience, the Group has supported more than 4,100 investors and participated in the development of hotel and real estate projects valued at more than USD 2 billion across international markets. Pullman Panama City represents MERCAN Group’s first hotel development in Panama.

About Accor

Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries, with more than 5,800 hotels and resorts, 10,000 bars and restaurants, wellness facilities, and flexible workspaces.

The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 45 hotel brands ranging from luxury to economy, as well as lifestyle brands with Ennismore.

ALL Accor, the booking platform and loyalty program, embodies Accor’s promise during and beyond the hotel stay, providing members with access to unique experiences.

Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusion. Accor’s mission is reflected in the Group’s purpose: pioneering the art of responsible hospitality, connecting cultures with heartfelt care.

Founded in 1967, Accor SA is headquartered in France. Listed on the CAC 40 index, the Group is publicly traded on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the U.S. OTC market (ticker: ACCYY).