Monday, August 24, 2015

Emirates adds Panama City flights, longest in the world

Panama Business. Dubai-based airline Emirates  plans to launch services to Panama City, beginning 01 February, 2016.
The new service will be the longest non-stop flight in the world (17 hours 35 minutes in the Westbound direction) and will be Emirates’ first gateway destination in Central America.
Service to Panama City, Panama’s capital and largest city by population, will commence with a daily flight operated by a B 777-200LR aircraft in a three-class layout - eight in First, 42 in Business, and 216 in Economy. The aircraft can carry up to 15 tonnes of cargo. Key imports to the country include pharmaceuticals, machinery products, iron/steel rods, and electronics. Service to Panama City will operate through Tocumen International Airport (PTY).
Emirates has chosen Panama as its fourth destination in Latin America. The Dubai-based carrier has announced today the plans to launch a daily service to Panama City as of February 1st, 2016, -the longest non-stop flight in the world with a 17 hour 35 minutes westbound leg.
Currently, the longest non-stop scheduled airline flight is Qantas Flight QF8 from Sydney to Dallas-Ft. Worth, operated by an Airbus A380-800, and with a distance of 8,577 miles (13,804km). This new route operated by Emirates will beat the current route by just 11 miles (18km), with a distance of 8,588 miles (13,822km). Interestingly, the carrier currently operates four ultra-long-range routes from its base in Dubai to Dallas-Ft. Worth (8,040 miles, 12,940km), San Francisco (8,103 miles, 13,041km), Houston (8,168 miles, 13,144km) and Los Angeles (8,339 miles, 13,420km), all of them served by its Airbus A380 fleet.
Boeing 777-200LR Paine Field Exclusively For Emirates Air by Erik Hildebrandt utilizing his own proprietary MachPod aerial imaging system mounted on the Wolfe Air Aviation, Ltd. Lear 25B camera ship.
“Panama City will be our first destination gateway in Central America, providing a convenient option for our passengers traveling from or through our global hub in Dubai and onward to destinations throughout Central America, the Caribbean and the northern part of South America,” said His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline & Group. “We’re also pleased to be the only commercial airline to offer a daily, First Class service to travelers on what will be the world’s longest non-stop flight.”
Flights will be operated by a Boeing 777-200LR in a 3-class layout, with seating for 266 passengers. The airline has highlighted in a press release that the cargo capacity of 15 tonnes will allow the airline to transport key import products such as pharmaceuticals, machinery products, iron / steel products and electronics.
Emirates also holds the distinction of being the largest Airbus A380-800 and Boeing 777 operator in the world. Actually, Emirates has being an operator of all triple seven variants, including the freighter version through its division Emirates SkyCargo.
“It is gratifying to see how diplomatic efforts focused on generating development and prosperity for Panama materialize,” said Isabel Saint Malo de Alvarado, Vice President of the Republic of Panama. “New doors to the country will open with a direct connection to the Middle East, a strong and thriving region with great synergies to both Panama and Latin America.”
According to IATA, Latin America is home to more than 8% of the world’s population yet only accounts for 5% of all global air traffic, largely due to the lack of adequate infrastructure. Panama has addressed this issue not only by investing in a major expansion and renovation program of Tocumen Panama City Airport, but also favoring the growth of Copa Airlines, one of the leading airlines in Latin America.

Endofa Expands Physical Operations to Panama

Panama Business. Endofa has announced recently its expansion in Central America, and says it will have a physical presence in Panama. The firm has also hired Christoffer Pedersen, who previously worked for OW Bunker, saying he was "instrumental in building their Panama and central American portfolio of business."
"Our steady expansion in this region is well in-line with our overall strategy. We see both the location and Christoffer adding immediate value to the brand as a whole, ensuring better pricing and service to our clients and partners" said Kenn Soendergaard, partner of Endofa.
"Christoffer will not only service Endofa's growing client base in the entire region, but will also look for opportunities to build closer ties with local players."
Pedersen commented: "I'm happy to be given the opportunity to further expand the Endofa brand in an area that is very dear to me. I'm in no doubt that with the tremendous backing of the entire Endofa team we will have something to offer to the market."

SKECHERS Launches New Subsidiary in Panama

Panama Business. SKECHERS USA, a global leader in the lifestyle and performance footwear industry, today announced that the Company is transitioning its business in Latin America from a third-party distributor to a wholly-owned subsidiary, SKECHERS Latin America LLC. The subsidiary will oversee more than 30 countries in the region, including the four key markets of Panama, Peru, Colombia and Costa Rica.
“SKECHERS’ strategic business model has established a strong framework for our brand to grow in many parts of the world, and we see Latin America as the next natural destination for us to employ this vision”
Building on its nearly 20 years of business in Latin America, SKECHERS plans to grow its operations and footprint – transitioning 21 SKECHERS stores in the region to subsidiary-owned and -operated locations, looking at new retail destinations and expanding its account distribution base.
“SKECHERS’ strategic business model has established a strong framework for our brand to grow in many parts of the world – and we see Latin America as the next natural destination for us to employ this vision,” said David Weinberg, chief operating officer of SKECHERS. “Over the years, our distributor in the region, Dabsan International, established an extensive retail and wholesale network in Latin America, and at one point became our largest distributor. Latin America and its key markets remain an important part of our international business, especially given our current growth in the Americas – including the United States, Canada, Brazil and Mexico.”
Weinberg continued: “With the increased demand for our brand and incredible growth that SKECHERS has experienced over the last few years – including our international wholesale business, which has grown more than 60 percent in the second quarter of 2015 year over year – we see an opportunity to drive our Latin America business to the next level. We believe that we can use the strengths of our marketing, advertising, capital and infrastructure to significantly grow this key market, helping it reach its full potential.”
Key executives at Dabsan International, including Dabsan company president Daniel Bassan, will help manage SKECHERS’ subsidiary business in Latin America. Based in Panama City, SKECHERS Latin America LLC will oversee the Company’s business with regional showrooms in Panama, Peru, Colombia and Costa Rica. Additional regions under the new subsidiary include the Caribbean, Ecuador, Guatemala, El Salvador, Honduras and Nicaragua.

Tocumen S.A. prepares new bond issue

Panama Business. To obtain the financing needed to complete the expansion of the South Terminal, the Tocumen International Airport administration expects to re issue debentures.
The delays that have occurred in the work due to changes in the original project design, prevent the administration from beginning to raise funds for the concession of the new “duty free” area, so they have announced that they will need to issue a new bond debt to complete the financing. It is estimated that the amount will be for more than $650 million.
Joseph Fidanque III, manager of Tocumen, S.A., said that “The financial plan left by the last administration is not feasible, because it was based on the tender for commercial or duty free areas in the south terminal, but these spaces will not be ready before 2017. “No one will invest in something that will not useable for three years.
“The previous government was hoping to get $500 million, and those funds would have been paid to the Brazilian company Norberto Odebrecht for the international tender it won for $679 million. But after two years of construction, the final cost of the work is hovering around $800 million, after the government requested modifications to the original design on the grounds that the building was not functional for today’s airport needs,” he said.

New Panama Itinerary from Un-Cruise Adventures

Panama Business.Un-Cruise Adventures has released a new brochure of small ship adventure cruises from November 2015 through April 2017, including a new itinerary in Panama. Other areas covered include Alaska, Pacific Northwest, Columbia & Snake Rivers, Hawaii, Mexico, the Galápagos Islands and Costa Rica.
The printed brochure has increased to 100 pages and includes details on twenty cruise itineraries plus land tour extensions. Colorful photos and maps illustrate each trip, and ship deck plans provide an overview of the line’s fleet of boutique yachts and small ships carrying 22-88 guests.
A Pure Panama: Cultures, Coasts & Canals itinerary in 2017 sails round trip Panama City, Panama aboard the 64-guest Safari Voyager. Highlights include exclusive visits at Guna Yala Islands and Darién villages, explorations of historic Casco Antiguo and San Lorenzo Fort, wildlife viewing in the Darién Jungle by motorized dugout canoe, bird watching along the Chagres River and a full transit of the 48-mile long Panama Canal.

On the Pacific side of Panama, travelers hike into the Punta Patiño Nature Reserve in the Darién Jungle, spot wildlife on the Mogue River by motorized dugout canoe and meet locals at an Emberá village. Guests also explore the Pearl Islands Archipelago, dotted with 90 islands and 130 islets, by kayak, paddle board, skiffs and snorkeling, while keeping eyes peeled for whales and dolphins.
In addition to the Panama Canal transit, guests tour Miraflores Locks and museum, travel to Casco Antiguo, the historic quarter of Panama City, and visit the Presidential Palace, National Theatre and Metropolitan Cathedral.
On the Atlantic side, two days are spent exploring Guna Yala (formerly the San Blas Islands) with time for water sports activities, swimming, relaxing on a picturesque beach and touring a local Kuna village. An exploration of the Chagres River is followed by a visit to San Lorenzo Fort, a UNESCO World Heritage Site. The first sailing departs April 29, 2017, and weeklong cruises continue through September. Rates begin at $4,395 per person, double occupancy. All adventures and activities are included along with innovative meals, a massage, transfers and premium wine, beer and spirits.
In fall 2016, a weeklong adventure cruise begins exploring Costa Rica and also includes a full transit of the Panama Canal. The Safari Voyager will remain in Central America full-time to sail itineraries in Costa Rica and Panama.

Wednesday, August 12, 2015

Air France to increase capacity and comfort to Panama.

Panama Business. In November 2015, and until the end of the winter season, Air France will offer its customers six weekly flights to Panama City on departure from Paris-Charles de Gaulle.

The Company will thus operate an additional frequency (starting from Friday 27 November) to this destination. All flights will be operated by Boeing 777-200 equipped with the Company’s latest long-haul travel cabins.

On board, customers will be able to enjoy the new Business class, a real cocoon in the sky, as well as the completely redesigned Premium Economy and Economy seats ensuring optimum travel comfort.

“This move upmarket of our products and services, and our increasing capacity, allow us to meet our customers’ requirements as closely as possible and demonstrates our ambition to increase our presence in Panama and in the Central America region”, stated Zoran Jelkic, SVP Caribbean Indian Ocean and Latin America Air France-KLM.

Complementing KLM’s daily service on departure from Amsterdam-Schiphol, 13 weekly frequencies will be operated by Air France-KLM to Panama City this winter. Moreover, thanks to Copa Airlines’ Ameri-cas hub at Panama City-Tocumen airport, the Group’s customers benefit from a vast choice of connections notably to the Caribbean, Columbia, Costa Rica, Ecuador, Guatemala, Honduras, Nicaragua, Peru and El Salvador.

Starbucks Enters Panama with New Flagship Store

Panama Business. Starbucks today opened its first store in Panama, its 15th market in Latin America. Located in Panama City's Street Mall, the 3,304 sq. ft. space is a celebration of Starbucks coffee journey, from its first location in Seattle's Pike Place Market to Panama's Volcán Chiriquí Valley.

Starbucks today opened its first store in Panama, its 15th market in Latin America. Located in Panama City's Street Mall, the 3,304 sq. ft. space is a celebration of Starbucks coffee journey, from its first location in Seattle's Pike Place Market to Panama's Volcán Chiriquí Valley.

Starbucks today opened its first store in Panama, its 15th market in Latin America. Located in Panama City's Street Mall, the 3,304 sq. ft. space is a celebration of Starbucks coffee journey, from its first location in Seattle's Pike Place Market to Panama's Volcán Chiriquí Valley.

 Starbucks Coffee Company together with Premium Restaurants of America (PRA), its long-term strategic licensing partner in Central America, opened last week its first store in Panama, making it Starbucks 15th market in Latin America and 67th worldwide. Located in Panama City’s Street Mall shopping center, the new store proudly features Starbucks Reserve™ Panama Carmen Estate coffee, part of the company’s exclusive Starbucks Reserve™ collection of unique, small-batch coffees.

Latin America has been part of Starbucks story from the very beginning”.“We are proud to bring the Starbucks Experience to customers in Panama and build our brand in a way that honors the coffee passion and traditions inherent to this region,” said Rich Nelsen, senior vice president and general manager for Starbucks in Latin America, where the company now has more than 880 stores employing over 12,000 partners (employees). “By extending our relationship with Premium Restaurants of America, we are diligently positioning the brand for continued growth in Latin America as we enter our 15th market in the region.”

Starbucks® stores in Panama are operated through a strategic licensing agreement with El Salvador-based Premium Restaurants of America (PRA), formerly named Corporación de Franquicias Americanas (CFA), which initially teamed up with Starbucks in 2010 for the opening of the company’s first store in San Salvador. Since then PRA has opened 19 Starbucks® stores, with eight in El Salvador, five in Guatemala, five in Costa Rica and one opening today in Panama, employing more than 340 partners across the region. Together, Starbucks and PRA plan to open at least 20 stores in Panama City over the next five years.

“We are honored to be Starbucks strategic partner in Central America,” said Francisco Alemán, General Director for Central America at PRA. “Our local market knowledge combined with our proven track record of operating Starbucks® stores will allow us to offer an exceptional experience to Panamanian customers. With the arrival of Starbucks in Panama, we are confident that we can continue to drive growth in the region by bringing customers a truly unique retail experience.”

To mark the launch of Starbucks in Panama, Starbucks® stores in the country will feature Starbucks Reserve™ Panama Carmen Estate coffee, a bright and nutty-sweet coffee grown in Panama's Volcán Chiriquí Valley, where coffee producer Carlos Aguilera produces some of the world's most renowned specialty coffees on his award-winning, family estate. Starbucks has featured coffee from farms in Panama like Carmen Estate, Los Cantares Estate, La Florentina, San Benito and Hacienda La Esmeralda since 2000 for customers to enjoy in select locations in the U.S. and is now proud to offer Starbucks Reserve™ Panama Carmen Estate Coffee in its new stores in Panama City.

“Starbucks has a long history of working with coffee growers like Carlos Aguilera across Central America and we are thrilled to now share that story here,” said David Batres, managing director for Starbucks Central America. “Our customers in Panama City have a strong appreciation for coffee and I believe we’ve created a unique destination between home and work where they can relax in our beautiful store, discover Starbucks® signature coffees from around the world, or enjoy a bag of our local Starbucks Reserve™ Panama Carmen Estate coffee to take home to share with friends and family.”

Only three other markets in Latin America currently offer whole bean packaged Starbucks Reserve™ coffees in select stores for limited times, including Colombia, Mexico, and Brazil. From the mountains of Nicaragua, to faraway highlands in Papua New Guinea, to the valleys of Panama – these coffees are hand selected by some of Starbucks most experienced coffee buyers.

The Starbucks® store at Street Mall offers customers an inviting destination to relax, recharge, and connect in one of Panama City’s most cosmopolitan commercial neighborhoods while enjoying Starbucks® signature brewed, espresso and blended beverages. Starbucks Latin America design team spent many months transforming the 3,304 sq. ft. space into a celebration of the Starbucks coffee journey, from its first location in Seattle’s Pike Place Market, as highlighted in the store’s artwork, to Panama’s Paso Ancho and Los Cantares coffee-growing regions in the Volcán Chiriquí Valley, depicted across a large hand-painted mural on a locally-sourced, wood-clad wall.

With a 28 ft. high ceiling, the focal point of the store is a one-of-a-kind custom made hanging mobile, designed to represent the Geisha coffee plant, which signifies the birth of the coffee industry in Panama. The store is dotted with beautiful images of Panama’s coffee farms and also features tile work resembling a hand painted style unique to the local culture. Starbucks also incorporated design elements from neighboring regions, including furniture from Colombia and wood slatted light fixtures from Brazil.

Latin America has been part of Starbucks story from the very beginning,” said Scott Mitchem, Starbucks director of design for Latin America. “Our store designs pay tribute to the region’s heritage and culture by working with local inspirations, artists and designers. We wanted to bring that same passion to the design of our first store in Panama.”

As part of Starbucks global commitment to creating opportunities for young people in the communities it serves, Starbucks Panama is collaborating with Panama City´s Municipality and nonprofit organization Glasswing International in a long-term project to renew and support a community center in Boca La Caja in Panama City. The first stage of this project will include restoring the center’s infrastructure and refurbishing the building. Once the center is open, Starbucks Panama partners (employees) will continue to engage in community service, supporting various clubs and activities aimed at fostering youth leadership. The program is expected to benefit more than 2,400 youth in Panama City.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at

With headquarters in El Salvador, Premium Restaurants of America –PRA- (previously Corporación de Franquicias Americanas - CFA) operates more than 500 restaurants in Mexico and Central America, employing more than 12,000 people. International companies such as Pizza Hut, KFC, Wendy’s and China Wok have relied on CFA for the operation of their brands. With Starbucks, PRA operates eight stores in El Salvador, five stores in Costa Rica, five stores in Guatemala, and one in Panama, employing more than 340 partners.

Xylem awarded $6M rental contract for Panama Canal expansion project

Panama Business. Xylem’s Godwin pumps to fill new Panama Canal lock basins with 1.7 billion gallons of water Xylem Inc.,a leading global water technology company, is playing an important role in the Panama Canal Expansion Program. Xylem is providing its heavy duty Godwin dewatering pumps to fill the third set of basin locks on the Pacific Ocean sector, with 1.7 billion gallons of water, as part of performance trials for the system prior to its commissioning.

“We are honored to work with the Authority of the Panama Canal (ACP) and to be part of this project which expands one of the world’s most important transport routes”.

The Panama Canal Expansion Program is scheduled for completion in the second quarter of 2016. It creates a new traffic lane and builds two new lock complexes, one on the Atlantic Ocean and the other on the Pacific, allowing for the passage of New Panamax ships, doubling the capacity of the Canal.

"We are honored to work with the Authority of the Panama Canal (ACP) and to be part of this project which expands one of the world’s most important transport routes,” said Colin Sabol, Senior Vice President and President of Xylem’s Dewatering business.

This is the second project that the ACP has awarded to Xylem under the Panama Canal Expansion Program. Earlier this year, Xylem supplied 64 Flygt mixers to prevent the formation of corrosive deposits on the rolling gates during installation.

To support the dewatering project, Xylem installed 15 Godwin diesel-driven pumps, deployed from the U.S. In June, these pumps transported up to 122 million gallons of water per day (MGD) from the Miraflores Lake to fill the third set of locks on the Pacific. Over a period of 22 days, the project consisted of pumping enough water to fill 90,000 average sized swimming pools.

Xylem is providing turnkey services and equipment for the project, with Xylem’s highly-skilled engineers designing and installing the system, which also includes 13,500 feet (more than 2.5 miles) of 18-inch high-density polyethylene pipeline (HDPE) to transfer the massive amounts of water. Xylem is also supervising the performance of the 15 Godwin pumps with its remote pump monitoring system called Field Smart Technology.

Jorge Alvarado, Managing Director for Xylem Latin America North, added, “Xylem is providing its global experience at a local level. With the world’s largest inventory of rental pumps and related equipment, Xylem has the ability to mobilize our vast resources quickly. In combination with the local presence and engagement of our Panama-based team, we are able to rapidly deliver the quality services demanded by the ACP for the execution of the Expansion Program project.”

The third set of basin locks includes reuse basins that will save water and also improve the Panama Canal’s efficiency, using seven percent less water compared with the amount currently used by the existing locks. In addition, in each transit operation, 60 percent of the water will be recycled.

A.M. Best Affirms Ratings of Aseguradora Ancón, S.A.

Panama Business. A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Aseguradora Ancón, S.A. (Ancón) (Panama). The outlook for both ratings is stable.

The ratings reflect Ancón’s improving underwriting practices, its good position within Panama’s market and its well-structured reinsurance program that is placed with strong, quality reinsurers. Offsetting factors include the company’s operating performance during the past year and pressures on its risk-adjusted capital.

Ancón is the sixth largest insurer in Panama with a market share of 5.2% as of December 2014; the company’s business portfolio is 94% property/casualty and 4% life. Surety business generates the bulk of Ancón’s non-life written premiums at 37%, and is followed by auto insurance at 28%.

During 2014, Ancón’s net income was negatively affected by the results in its automobile and fire lines of business with each segment being impacted by increased competition and high claims. The company began taking adequate measures in the second quarter of 2014 to improve its performance in both segments, improving its overall combined ratio to 90.9% as of June 2015 compared with 104.4% at year-end 2014. A.M. Best expects this tendency to continue in the second half of 2015. Risk-adjusted capitalization was pressured by the negative result in 2014, but remains supportive of the ratings. A.M. Best expects that the adjustments in underwriting practices will improve bottom line results and profitability, which will contribute to strengthening the company’s capitalization in the midterm.

Market competition in Panama’s auto segment has been harsh during the past year. This has resulted in general complications for the market, including progressive deterioration in the market-wide quality of underwriting, which left leading companies, such as Ancón, susceptible to price battles in 2014. However, A.M. Best has seen Ancón improve its combined ratio to 94.5% in this line as of June 2015, compared with its 2014 combined ratio of 127.9%. Fire has been another competitive segment in Panama with great exposure to Colon’s free duty zone where claims have been constant and severe. Management has also been able to limit its exposure and gain more favorable terms.

Risk-adjusted capitalization for Ancón remains supportive of the rating and is adequately protected by its well-structured reinsurance program with high quality reinsurers; however, it is still exposed to execution risk in the operating performance, which could ultimately damage the company’s capital position, as it did in 2014.

Multinational Insurance Company, a subsidiary of Ancón, is a property/casualty insurer that owns 47.79% of the shares of Multinational Life Insurance Company. Both companies are domiciled in Puerto Rico.

Negative rating actions could occur if capitalization continues to come under pressure and reaches levels that are not supportive of the current ratings or if operating performance continues to be weak. Positive rating actions could occur if Ancón is able to strengthen its risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), at the same time that it reverses its negative trend in operating performance.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process.

New LEED® Certified Building Under Construction at Panama Pacifico

Panama Business. Special Economic Area Panama Pacifico is constructing its first LEED® certified Class A office building, making the development more competitive among the international business community.

Special Economic Area Panama Pacifico is joining the global green building movement by constructing its first 7-story, LEED® certified Class A office building. Once completed in 2016, the 18,624 square foot office building will boast sustainability features and cost savings options, making Panama Pacifico more competitive among the international business community.

 “We are excited to build the first LEED Certified office building at the Panama Pacifico Special Economic Area,“ said Henry Kardonski, Managing Director of Panama Pacifico. “The new LEED certified building enhances the collection of commercial and industrial space we offer to companies looking to locate to one of the most attractive markets in Latin America.”

Sustainability features of the building include a reflective solar roof, green transportation options such as direct access to public transportation, bicycle parking, and high efficiency water and energy systems. The use of potential contaminants in the interior of the building has also been limited. Additionally, natural vistas and natural light have been intelligently used throughout the building. These amenities, coupled with other high standards of design, construction, and functionality, will expend less energy and reduce water consumption as well as lessen the global and ecological impact of the building.

"Moving into a LEED certified building can generate a higher return on investment for companies due to the increased efficiency and reduced costs of water and energy bills by as much as 40 percent,” said Kardonski.
 In addition to the sustainability advantages of the building’s LEED classification, the Panama Pacifico Special Economic Area is a public-private partnership that provides favorable regulations such as special tax, labor, and legal incentives to companies that open a facility on the site. The Special Economic Area has captured the attention of global companies, especially those looking for a strategic location to consolidate their distribution, manufacturing, and back office operations to a single location.

Hard Rock Hotel Panama Megapolis Chooses IDeaS to Drive Better Revenue

Panama Business . IDeaS Revenue Solutions, the leading provider of revenue management software solutions and advisory services, today announced a new strategic partnership with Hard Rock Hotel Panama Megapolis to increase revenue performance across the property's 1,460 rooms with IDeaS G3 Revenue Management System (RMS).

In need of a best-in-class revenue management system and strategic partner to support the company's future expansion efforts, Hard Rock Hotel Panama Megapolis selected IDeaS G3 RMS following an extensive evaluation of multiple revenue management solution providers.

"Our decision to partner with IDeaS is really two-fold: IDeaS G3 RMS is the best solution for Hard Rock Hotel Panama Megapolis. It is clearly the most robust and sophisticated solution we evaluated. Furthermore, IDeaS is the proven global leader for revenue management in the industry, and has the track record to back it up," said Freddy Gordillo, general manager for Hard Rock Hotel Panama Megapolis. "IDeaS will be a vital resource for success as we continue to grow our business in Panama."

Powered by advanced SAS® Analytics and IDeaS' 25 years of innovation in hospitality technology, IDeaS G3 RMS empowers users to increase revenue performance with the industry's most comprehensive pricing decisions, sophisticated forecasting and interactive dashboards and reporting tools.

"We are committed to equipping our partners with innovative solutions and cutting edge revenue management capabilities that they can't get anywhere else," said Jane Stampe, Americas managing director for IDeaS. "We look forward to helping Hard Rock Hotel Panama Megapolis achieve their goals for better revenue."

Agribotix Announces Latin America Joint Venture With Eco BCG

Panama Business. Agribotix LLC and Eco BCG have announced a strategic joint venture, called Agribotix-Latin America. Agribotix-Latin America will bring agricultural intelligence solutions, leveraging drone-enabled technology to the region. The company's headquarters are in Panama City, Panama, with additional offices in Mexico City and Santiago, Chile. Regional sales, training and customer service will be provided by Agribotix-Latin America and its authorized dealers.

The joint venture enables rapid, efficient expansion of reach for both companies, whose expertise and relationships are complementary. Latin America represents a large market, with substantial acreage dedicated to agriculture. Agribotix is an emerging leader in agricultural intelligence using agriculture-specific drone-enabled technologies, while Eco BCG provides clean technologies for business operations, including agricultural production.

Growers, NGOs, agronomists and authorized dealers can use drones to collect aerial field data, which is then uploaded to Agribotix-Latin America's cloud platform. Agribotix specialists then return high-resolution images and actionable reports that can be used to optimize inputs and toidentify issues, enabling increased crop yields and profits.