Fall in Hotel Construction in Costa Rica

In 2013 the number of building permits requested for hotel establishments across the country dropped by 62% compared to 2012.

Friday, February 28, 2014

The number of square meters authorized in the last 12 months between February 2013 and January 2014 fell to 47,515 m2 compared with the 126,036 m2 in the previous period, according to the Costa Rican Chamber of Construction.

Meanwhile, "The National Chamber of Tourism (Canatur) estimates that the reduced amount of building permits is due to a combination of factors. He believed that the drop in construction is normal, in general, after a time of crisis, in addition to the dollar price being low for a long period of time, and the small returns on investment.

Isabel Vargas, President of Canatur, said in an article in Nacion.com that "currently costs in Costa Rica are higher by between 20% and 25% than in Mexico and the Dominican Republic."

"According to Ruben Pacheco, president of the Costa Rican Chamber of Hotels, for a long time they have been drawing attention to the high costs of electricity, water, building materials, transportation and the excessive amount of paperwork.
But, he said, there calls have not been answered and the country is losing ground in competitiveness. "

More on this topic

Costa Rica: Construction Figures up to June 2015

August 2015

The amount of square metres of construction in applications for permits up to June 2015 decreased by 7% compared to the same period in 2014, with office buildings and industry leading the decline, with negative rates of 22% and 10%, respectively.

Data from the Costa Rican Chamber of Construction shows the decline in the number of square meters of construction being processed with the Association of Engineers and Architects.

Perspectives of Construction in Costa Rica

January 2014

In 2014 the dynamism of the sector will depend on the speed with which the current infrastructure problems and excessive paperwork can be resolved.

The Costa Rican Chamber of Construction (CCC) today announced that 2013 closed with a decline of 1.7%, about 99 thousand square meters less than in 2012.

Bad Season for Hotels in Costa Rica

September 2013

In September and October hoteliers reduce or close their operations due to the low levels of occupancy recorded at this time of year.

Many of these companies send their employees on training courses or terminate their contracts as occupancy levels in these two months are at the lowest of the year.

Hotel Supply in Costa Rica Keeps Growing

February 2013

Although building permits for hotels fell slightly during 2012, development projects will add more than 1,300 rooms over the next two years.

Nacion.com reports that "Seven projects under construction will extend the national supply of hotel rooms by 1309, with the openings planned between this December and November 2014."

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