The influential brand Ace Hotels — which will open its first outpost abroad next month in the Shoreditch neighborhood of London— is adding another foreign locale to its portfolio: Panama City.
The 50-room American Trade Hotel, an ambitious project that arrives in November in the city's buzzing Casco Viejo neighborhood, is more luxurious than your typical Ace. It will be the first in a series of hotel openings from Atelier Ace, the creative team behind the Portland, Ore.-based company.
"Casco reminds me of old Havana," said Ace's co-founder, Alex Calderwood. "You have these beautiful 16th-, 17th- and 18th- century buildings — some restored, some not — and there's also this excitement there."
The hotel, developed by the Panama-based company Conservatorio, is deeply rooted in local history and culture. It incorporates two storied buildings in Casco Viejo, including the original American Trade department store, which was built in 1917 as a place where rich locals and expats could buy American goods. (It was then the tallest building in Panama and only the second to have an elevator.)
More recently, the building became a hangout for an infamous street gang, Los Hijos Pródigos. So its transformation into an upscale Ace Hotel signals that the gentrification of this seafront district — already home to other high-end hotels, interesting architecture and hip restaurants — is well on its way. (Room rates range from $189 to $609 per night.)
Inside the hotel will be a jazz bar, a farm-to-table restaurant and a rooftop pool. Single-source Panamanian coffee will be roasted on-site and served in the lobby cafe. The hotel's ballroom is housed in a neighboring Art Deco building that was once the Panamanian headquarters of First National City Bank of New York (later Citibank) — which was instrumental in financing the Panama Canal.
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