Here’s what really happened when I stayed at Lola Beach in February 2011: the vacation rental world inverted itself. I grilled crispy coffee-rubbed pork, I slept late, I watched The Tailor of Panama for the first time, I swam in a crystal water lagoon, I watched the sunset from a palapa on the beach, and I felt terrible for the guests of the adjacent resort.

2009 was a difficult year for Panama hotels as a confluence of factors struck the growing industry where it hurts most.  According to IPAT, hotel occupancy numbers around the country decreased in 2009 with Panama's largest hotels (those with 100 rooms or more) feeling the recession hardest and recording a decrease in occupancy of 18%. Hotels specifically in Panama City fell from 67% to 57%, a drop of nearly 15%. 

A single dirt road runs through the Chiriqui village of Boca Chica, and, depending on which direction you come from, either the first or last thing you pass is a little concrete dock down by the water. It's this rather unremarkable dock of tangled fishing nets, empty gas tanks, and fishermen sleeping in hammocks that one might be tempted to call boring were it not the launching point to one of Panama's best kept hotel secrets.

Walking through the palatial entrance of Panama's Bristol Hotel Buenaventura, I may have been wrong to envision the resort as my own private villa with several sets of men at attention wearing finely pressed pants, their hands folded behind their backs. "Wilson, bring me my Cool Aid in the study," I wanted to say. "No, make that a glass of orange Crush. Orange Crush in the study...Wilson! Chop chop!" While the top-notch etiquette is typical for Bristol employees, I couldn't help but wonder how long they'd been waiting to put their moves to work considering the woman at the front desk said business was slow. The last guest left three days prior.

Panama's historic district Casco Viejo has been the epicenter of socially conscious development in Panama City for around a decade now, with the majority of injected money coming from foreign investment and tourism: from people who appreciate deeply the human scale of the neighborhood as well as its architectural and cultural importance in the construction of a nation. 

Punta Caracol Aqua Lodge is set in an amazing location. It is very secluded so I suggest you bring someone you really like. The resorts bungalows are suspended over the turquoise water and sit on wooden stilts which makes for a floating-like feel. These cottages are all solar-powered. Each has private wooden verandas overlooking the distant hills and the calm Caribbean. The first thing guests might miss is a/c, but we got used to not having it and were just content with the small ceiling fan. Note: electricity in the resort is not 24/7, which is strange at such a high price.

We found the Raddison Decapolis as a trendy and chic hotel, a combination of modern design and incomparable atmosphere. This is definitely one of the best properties in Panama. This hotel is set in the business district on Avenida Balboa, which is a centralized location.