| No | City | Nr. Hotels |
|---|---|---|
| 1 | Panama City | 149 |
| 2 | Bocas del Toro | 79 |
| 3 | Boquete | 49 |
| 4 | Playa Blanca | 23 |
| 5 | David | 22 |
| 6 | Valle de Anton | 20 |
| 7 | Playa Venao | 19 |
| 8 | Santa Catalina | 18 |
| 9 | Contadora | 9 |
| 10 | Playa Coronado | 7 |
| 11 | Santiago | 7 |
| 12 | Colón | 6 |
| 13 | Cambutal | 4 |
| 14 | Chitré | 4 |
| 15 | Isla Grande | 2 |
| 16 | Las Tablas | 2 |