IT’S A BUYER’S  MARKET for visitors to Panama seeking  a city  hotel room as occupancy rates continue to fall, and the careful shopper may  find that there is money to spare from the accommodation budget.

Meanwhile authorities are stepping up raids on  unapproved vendors renting rooms and apartments for extended time periods.

Between 2015 and 2016 the average  hptel occupancy rate fell  from 52% to 48%, while the total supply of rooms decreased from 10,451 to 10,369.

Figures from the Comptroller  General of Panama indicate that the downward trend in hotel occupancy was maintained throughout 2016, with the month of December recording an average percentage of 47.7%.

The daily average for the number rooms occupied during 2016 dropped to 4,977, after having been from 5,466 in 2015.