Full-Service, Upper-Upscale Hotel Asset

• The full-service, upper-upscale, mixed-use hospitality asset benefits from the very good condition of its guestrooms, public areas, and amenities.

• The property is currently undergoing renovations; as such, new ownership is expected to benefit from limited near-term capital expenditure requirements.

Expanding Panama City Market

• Panama maintains strong investment-grade characteristics relative to the region, supported by international banking, trade, logistics, and canal-related revenues, providing consistent year-round corporate lodging demand.

• Panama City continues to serve as a strategic gateway between North and South America, driving sustained corporate and leisure visitation.

• Panama City’s growing appeal as an international leisure destination, with attractions such as Multiplaza Panamá (shopping mall), the historic Casco Viejo district, and the Panama Canal, draws significant visitor traffic, while Tocumen International Airport (PTY), one of Latin America’s primary aviation hubs, provides strong international connectivity supporting continued tourism growth.

Strong Location Within Premier Business District

• The property is strategically located in the heart of El Cangrejo in Panama City, near a variety of banking and commercial demand generators, surrounded by multinational corporations, financial institutions, and embassies.

• El Cangrejo remains a dynamic downtown business and commercial corridor, attractive to local residents and visitors alike, boasting a vibrant social atmosphere given its variety of global eateries, bars, and cafés.

• Aside from the hotel portion, the property contains a variety of components, including a full-service casino, retail outlets, and restaurants, creating an attractive destination for guests.

Significant Operational Upside Through Active Asset Management

• The hotel asset is being offered unencumbered by a long-term management agreement, providing new ownership with maximum flexibility to implement its preferred operational platform and potential brand strategy.

• Improving market dynamics could result in growing base of business and leisure demand.

• Enhanced revenue-management strategies could result in improved segmentation mix (corporate, group, leisure, and casino-related demand), and complementary sales execution could materially improve RevPAR penetration and NOI flow-through.

• Opportunities exist to further leverage the casino, spa, food-and-beverage (F&B) outlets, and meeting space to increase ancillary revenue capture and total revenue per available room (TRevPAR).

Diversified Revenue Streams, Including a Casino

• The hotel benefits from multiple revenue centers, including spa operations, casino operations, multiple F&B outlets, and meeting/event space.

• The Waymore Casino is a full-service gaming operation featuring 42 table games and 511 slot machines, for a total of 847 gaming positions, together with a private VIP table games/poker area, bar service, and a stage for live musical performances, making it one of the most prominent casino facilities in Panama City.

• This diversified revenue complements revenue from transient room demand and supports more consistent total revenue generation and cash-flow performance across different market segments and cycles.