Why Panama is a great destination for value-for-money luxury travel.

Many travelers dream of staying in top luxury hotels online. But prohibitive prices often put them off – especially now, as inflation drives up the cost of travel. For those looking for a luxurious yet affordable getaway with a world-class hotel brand, Panama is a place that should be on the radar.

Luxury hotels in Panama City can be booked for much less than similarly branded accommodations across the United States. So if your goal is to stay at an international luxury hotel brand without straining your credit card, Panama City is the right choice, thanks to its decidedly sophisticated – and certainly competitive – local hotel scene.

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A quick survey of Panama City’s luxury hotel brands reveals a variety of options that often beat similar offerings in the United States. Among the newest and most important examples is Hotel La Compagnia, an elegant property that is the first member of the Hyatt Unbound Collection in Central America. Located in the historic and trendy Casco Antiguo district and nestled among several beautifully renovated historic buildings, La Compagnia sometimes offers rooms for less than $300 a night, compared to nearly $600 at the Chicago Athletic Association’s Unbound Collection’s property in the Windy City.

Travelers who enjoy the hip, stylish W vibe will also find an interesting — and attractively priced — option in this Central American capital: W Panama sometimes offers rooms as low as $188, compared to $290 and up at W Los Angeles-West. Beverly Hills. W Panama offers unique activities such as sunset yoga on the WET Deck and has a large spa with excellent treatment programs.

More affordable, surprisingly, is the Waldorf Astoria Panama, where room rates rarely fall below $200 a night—a big contrast to the Waldorf Astoria Los Cabos Pedregal in Mexico, for example, where rates start at $1,000 a night. The elegantly designed Panama property exudes urban sophistication and features a spa, outdoor pool and multiple dining and drinking venues.

Panama’s elegant skyline is dotted with ever-increasing skyscrapers, and many of the hotels have great views of the city and the Pacific Ocean. For waterfront views, it’s hard to beat properties like the Hilton Panama, which sits on Cinta Costera’s waterfront boulevard and offers room rates starting at just over $200 a night.

Rates at the InterContinental Miramar Panama City, which offers a high-rise tower and great views, can start as low as $160. One of the city’s longest-running high-end luxury hotels, the InterContinental has several dining and drinking venues, a swimming pool and a spa. (The InterContinental Mexico City, by contrast, charges rates starting around $300 a night, while the Real InterContinental in San Jose, Costa Rica starts at more than $200 a night).

Additionally, the JW Marriott Panama sits atop an eye-catching 70-story, sail-shaped building, the tallest building in Central America. Room rates at this stylish luxury property start as low as $160 per night. The JW Marriott Hotel Bogotá in Colombia, on the other hand, charges $300 for its most expensive accommodations.

Westin is represented by two popular hotels in Panama, both of which offer room rates under $200 a night: the Westin Playa Bonita Panama, a resort-style property just outside Panama City, and the Westin Panama in Panama, the city’s upscale Costa del Este neighborhood. (A stay at the Westin Lima in Peru costs more than $200 a night, while the all-inclusive Westin Receva Conchal, an all-inclusive golf resort and spa, can easily set you back nearly $500 a night.)

Fans of the world’s small luxury hotels may find an attractive alternative in Panama City. In the year Located in the historic 1917 Casco Antigua district, the American Trade Hotel offers room rates from the mid-$200s.

Boutique style, high-rise chic or traditional charm, Panama City offers plenty of opportunities to live without breaking the bank.