IDB Invest announced its support for the acquisition, remodeling and rebranding of the Hotel Los Mandarinos, in El Valle de Antón, an emerging tourist destination located two hours from Panama City. The financing amounts to $5 million, with IDB Invest providing $3 million and $2 million mobilized through a partnership with BAC International Bank.

The renovated property will be rebranded as Hotel La Compañía Del Valle and will join Hyatt’s Unbound Collection, raising the standards of international hospitality in the region. The project builds on the successful collaboration with BAC International Bank for the financing of Hotel La Compañía Casco Viejo.

The project aims to support local economic development and boost El Valle de Anton’s standing as a premier tourist destination. The new hotel will help diversify Panama's tourism offerings and complement its sister property, Hotel La Compañía Casco Viejo, located in Panama's historic district. These two properties will provide travelers with a cohesive experience.

The newly renovated 70-room property is set to open in early 2025 and will be the largest hotel in the area, featuring state-of-the-art facilities such as three new dining venues, a destination spa, a sculpture garden, and various social and recreational amenities. This initiative is expected to generate new jobs and strengthen the local economy by supporting micro, small, and medium-sized enterprises through local sourcing of food and beverage products.

The project demonstrates IDB Invest’s commitment to fostering sustainable tourism in emerging destinations. By attracting visitors to El Valle’s natural landscapes and rich biodiversity, the initiative aims to stimulate economic growth and create a more balanced economic landscape with positive effects across Panama. 

The project aligns with several U.N. Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8) and Partnerships for the Goals (SDG 17), emphasizing IDB Invest’s dedication to impactful development initiatives.

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website idbinvest.org/en.

About Shebandowan Holdings S.A

Shebandowan Holdings S.A. is a special purpose vehicle solely created for the development of Hotel La Compañia. It is owned by individual investors of an international nature, with broad experience in the real estate and restaurant sectors. The company sees the potential of Panama and the restoration of its history, as a cornerstone to the continued development of sustainable tourism in Central America.

About BAC International Bank

BAC is the leading bank in Central America with a presence in all six countries of the region. It has more than 4.9 million customers, over 20,000 employees in the region, and serves more than 100,000 businesses. BAC's purpose is to "Reimagine banking to generate prosperity in the communities it serves." Guided by the values of integrity, excellence, and passion, it aims to be a pioneer and demonstrate that banking can maximize economic, environmental, and social value, all at the same time and with the same rigor and excellence.