JW Marriott Panama

The project was designed by Colombian architects Arias – Serna – Saravia S.A.{{cite web|url=http://www.trumpoceanclub.com/team/architect/|title=Arias Serna Saravia|access-date=November 11, 2013|publisher=TrumpOceanClub.com|archive-url=https://web.archive.org/web/20161007121544/http://www.trumpoceanclub.com/team/architect/|archive-date=October 7, 2016|url-status=dead}} It includes a five-star hotel of 369 hotel condominium units, 628 residential condominium units, 1500 parking spaces, 36 retail shops, 10-story office tower, a {{convert|75000|sqft|adj=on}} casino operated by Sun International,{{cite press release|title=Trump Ocean Club International Hotel & Tower Panama announces Sun International as casino operator|author=Trump Ocean Club International Hotel & Tower Panama|date=November 29, 2012|url=http://globenewswire.com/news-release/2012/11/29/508433/10014064/en/Trump-Ocean-Club-R-International-Hotel-Tower-Panama-Announces-Sun-International-as-Casino-Operator.html|access-date=December 4, 2012}} daily ferry service to the Pearl Islands, yacht club and pier, wellness spa, gym, pool deck, meeting and event spaces, and a business center.

The 13-story base is topped by a tower resembling the Burj Al Arab, a hotel in Dubai, United Arab Emirates;{{cite web |first=Karen |last=Loftus |title=Review: Trump International Hotel and Tower — Panama City |url=http://www.luxurylatinamerica.com/panama/trump_ocean_club.html|website=Luxury Latin America |access-date=5 March 2016 }}{{cite web|last1=Brass|first1=Kevin|title=Donald finally comes up trumps in Panama |website=The National |url=https://www.thenational.ae/business/donald-finally-comes-up-trumps-in-panama-1.416049 |date=15 July 2011 |access-date=5 March 2018 }} before its completion the developer asked for a preemptive injunction against lawsuits by Jumeirah Group over the similarity.{{cite news|newspaper=The International Herald Tribune |title=Trump project in Panama goes to court over talk it copied design of famous Dubai hotel|url=http://raisingtheroof.blogs.nytimes.com/2008/05/21/trump-project-in-panama-goes-to-court-over-talk-it-copied-design-of-famous-dubai-hotel/|access-date=8 January 2017|date=21 May 2008 |via=The New York Times |type=Raising the Roof blog}} The interior was designed by Hirsch Bedner Associates.

Construction began in May 2007. When built, the tower was the tallest building in Latin America; {{as of|2008|lc=y}} it remains the tallest in Central America and still remains the largest mixed use building of its kind in Latin America.

Donald Trump arranged financing for the project from the investment bank Bear Stearns – a $230 million bond offering – for which he received a $2.2 million commission.{{cite news |publisher=ProPublica |title=Pump and Trump |url=https://features.propublica.org/trump-inc-podcast/trump-family-business-panama-city-khafif/ |date=October 17, 2018 |first1=Heather |last1=Vogell |first2=Andrea |last2=Bernstein |first3=Meg |last3=Cramer |first4=Peter |last4=Elkind}}{{cite web |title=Licensor Documents TOC Jun07 |url=https://www.documentcloud.org/documents/4488990-Licensor-Documents-TOC-Jun07.html#document/p20 |pages=20–21 |date=July 5, 2007 |access-date=November 2, 2018}} During the financing, Ivanka Trump falsely claimed that over 90% of the units had been sold, and that their sale price was five times that of comparable units.{{cite news |title=The Beat with Ari Melber: MSNBC: October 18, 2018 3:00pm-4:00pm PDT |url=https://archive.org/details/MSNBCW_20181018_220000_The_Beat_With_Ari_Melber/start/3060/end/3120 |date=October 18, 2018 |publisher=The Internet Archive}} Ivanka Trump also exaggerated demand for the units, claiming in 2009 they were selling out even as potential buyers were being offered substantial discounts.{{cite news |publisher=Latin Trade |url=http://latintrade.com/ivanka-trump-panama-hottest-market/ |title=Ivanka Trump: Panama Hottest Market |date=March 2, 2009 |first=Joachim |last=Bamrud |quote=Our biggest problem is not having enough inventory. We only have a small percent of the building left. |access-date=November 3, 2018 |archive-date=November 3, 2018 |archive-url=https://web.archive.org/web/20181103092149/http://latintrade.com/ivanka-trump-panama-hottest-market/ |url-status=dead }} During the development, Donald Trump falsely implied that the Trump Organization had a financial stake in the project, and that it was acting as the developer, neither of which were true.

The building was developed by Roger Khafif, President of the K Group, a Panama resort developer and three Colombian partners by Newland International Properties Corp. Khafif first conceptualized the project in 2005, and arranged a meeting with Donald Trump via Marvin Traub.{{cite magazine |magazine=Time |url=http://content.time.com/time/business/article/0,8599,1973869,00.html |title=Donald Trump Goes on an Adventure in Panama |first=Tim |last=Rogers |date=March 20, 2010}} A contract was signed initiating the project in New York City in 2006. Ivanka Trump was given a lead role in developing the project.

The hotel opened on July 6, 2011, approximately one year behind schedule, in a ceremony attended by President Ricardo Martinelli.{{cite news |publisher=eju.tv |url=http://eju.tv/2011/07/trump-inaugura-en-panama-el-edificio-mas-alto-de-latinoamerica/ |language=es |date=July 7, 2011 |first=Patricia |last=Cadena |title=Trump inaugura en Panamá el edificio más alto de Latinoamérica [Trump inaugurates the tallest building in Latin America in Panama]}} In September 2011 Fitch Ratings downgraded $220 million in bonds that Newland International Properties Corp. was using to finance construction of the building from B-sf to CCsf because of "continued uncertainty over the willingness and ability" of buyers to take possession of apartment units.{{cite web|url=https://www.bloomberg.com/news/2011-09-21/fitch-downgrades-trump-hotel-builder-in-panama-citing-defaults.html|title=Fitch Downgrades Trump Hotel Builder in Panama, Citing Defaults|access-date=October 2, 2012|date=September 21, 2011|last=Sabo |first=Eric|publisher=Bloomberg L.P.}}

Newland licensed the Trump brand name for an initial fee of $1 million, the hotel was the first international Trump "name branded" development to open.{{cite news |url=https://www.youtube.com/watch?v=Z1ixnO2_x9Y |archive-url=https://ghostarchive.org/varchive/youtube/20211221/Z1ixnO2_x9Y |archive-date=2021-12-21 |url-status=live|title=Ivanka Trump exclusive at Trump Ocean Club Panama |date=February 28, 2012 |first=Jose |last=Larrota |publisher=YouTube |access-date=November 2, 2018}}{{cbignore}} Donald Trump reportedly personally profited between $30 million and $55 million from the project.

The Trump Organization managed the hotel under contract until March 2018, when Cypriot businessman Orestes Fintiklis, who had bought a majority stake in the hotel condominium association, legally ousted them and had the Trump name removed from the building in 2015 and from the hotel March 5, 2018.{{cite news |first1=Ana |last1=Currud |first2=David A. |last2=Fahrenthold |url=https://www.sfgate.com/news/article/Trump-Panama-hotel-showdown-appears-to-end-and-12728944.php |title=Trump Panama hotel showdown appears to end, and the Trump name is coming down |newspaper=The Washington Post |via=San Francisco Chronicle |date=5 March 2018 |access-date=5 March 2018 }} The hotel was temporarily renamed The Bahia Grand Panama prior to Marriott's involvement.{{cite web |title=Former Trump hotel in Panama City rebranded as JW Marriott |url=https://apnews.com/article/381aedfac3d449f7b8263c3e124adb88 |work=Associated Press |date=25 September 2018}}

On March 22, the Panamanian law firm Britton and Iglesias unsuccessfully petitioned Panamanian President Juan Carlos Varela to intercede and restore the Trump Organization's management team.{{cite news |url=https://www.nytimes.com/2018/04/10/world/americas/trump-panama-hotel-dispute.html?smid=tw-nytimesworld&smtyp=cur |newspaper=The New York Times |date=April 10, 2018 |title=Trump Company Lawyers Asked Panama President for Help in Hotel Dispute |first1=Kirk |last1=Semple |first2=Ben |last2=Protess}}{{cite news |first1=Ana |last1=Cerrud |first2=David A. |last2=Fahrenthold |date=April 9, 2018 |newspaper=The Washington Post |url=https://www.washingtonpost.com/world/warning-of-repercussions-trump-company-lawyers-seek-panama-presidents-help/2018/04/09/9e3fbb8e-3c2f-11e8-8d53-eba0ed2371cc_story.html |quote=Lawyers representing President Trump's company last month wrote directly to the president of Panama, asking him to intervene in a legal fight over the Trump International Hotel in the capital — and warning that the case could have "repercussions" for Panama's reputation. |title=Warning of 'repercussions,' Trump company lawyers seek Panama president's help}}

On June 28, 2018, it was announced that the hotel would become a JW Marriott.{{Cite web | url=https://www.hotelnewsresource.com/article100653.html |title = JW Marriott Hotel Coming to Panama}} It was officially renamed on September 26, 2018.{{Cite web | url=https://www.hotelnewsresource.com/article101807.html |title = JW Marriott Panama Hotel Opens in Tallest Building in Central America}}

In June 2019 Fintiklis accused Trump companies of tax evasion.{{cite web|url=https://www.nytimes.com/2019/06/03/business/trump-panama-hotel-tax-evasion.html |title=A Former Business Partner Alleges the Trumps Evaded Taxes in Panama |author= |date=3 June 2019 |website=The New York Times |access-date=5 June 2019}}{{cite web|url=https://www.propublica.org/article/trump-companies-accused-tax-evasion-panama |title=Trump Companies Accused of Tax Evasion in Panama; In the latest chapter in ongoing litigation, the private equity fund that bought what used to be called the Trump Ocean Club claims the Trump entities pocketed money that should have gone to the Panamanian government. |author=Heather Vogell |date=June 3, 2019 |website=Propublica.org |access-date=5 June 2019}}

{{gallery

|File:Ocean Club PanamáDic2008.jpg|{{center|JW Marriott Panama during construction in 2008}}

|File:Panama 08 2013 Trump Ocean Tower 7086.JPG|{{center|JW Marriott construction finished}}

|File:Panama 08 2013 7046.JPG|{{center|Skyline view of Panama City, JW Marriott at left}}

|File:Side view JW Marriott Panama 2022-11-28.jpg|{{center|JW Marriott side view from street}}}}

• List of tallest buildings in Panama City
• Spinnaker Tower – similar structure in Portsmouth, United Kingdom
• Vasco da Gama Tower – similar structure in Lisbon, Portugal
• W Barcelona – a similar-shaped skyscraper in Barcelona, Spain
• Sail Tower – a similar-shaped skyscraper in Haifa, Israel

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• [https://www.marriott.com/hotels/travel/ptymj-jw-marriott-panama/ Official website]

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