| 101 | Courtyard By Marriott Panama Multiplaza Mall | 50 | 716 | Panama City, Panama | $$$$ |
| 102 | Central Park Hotel & Casino | 50 | 894 | Panama City, Panama | $$$$ |
| 103 | Aparthotel Sevilla Suites | 50 | 548 | Panama City, Panama | $$$$ |
| 104 | Hotel Casa Miller | 50 | 582 | Panama City, Panama | $$$$ |
| 105 | Zebulo Hostel | 50 | 688 | Panama City, Panama | $$$$ |
| 106 | Contadora Island Inn | 40 | 148 | Contadora Island, Panama | $$$$ |
| 107 | Eshel Suites Panama | 40 | 35 | Panama City, Panama | $$$$ |
| 108 | Hostal Loco Coco Loco | 40 | 231 | Panama City, Panama | $$$$ |
| 109 | Saboga Lodge Boutique Guesthouse (Adults Only) | 40 | 119 | Saboga, Panama | $$$$ |
| 110 | Totumas Lodge | 40 | 180 | Panama City, Panama | $$$$ |
| 111 | Blu Hostel | 30 | 1194 | Panama City, Panama | $$$$ |
| 112 | Corcho Rooms | 30 | 182 | Panama City, Panama | $$$$ |
| 113 | Monkey Lodge Panama | 30 | 185 | Chilibre, Panama | $$$$ |
| 114 | Toscana Inn Hotel | 30 | 385 | Panama City, Panama | $$$$ |
| 115 | Hotel San Thomas Inn | 30 | 363 | Panama City, Panama | $$$$ |
| 116 | La Semilla Ecolodge | 30 | 63 | Cerro Azul, Panama | $$$$ |
| 117 | Hotel Caracas - Casco Antiguo | 20 | 2769 | Panama City, Panama | $$$$ |
| 118 | Eden'S Garden Hostel | 20 | 655 | Panama City, Panama | $$$$ |
| 119 | Hotel Via Espana | 20 | 482 | Panama City, Panama | $$$$ |
| 120 | Casa Lourdes By Acomodocasco Viejo-Large Groups! | 20 | 208 | Panama City, Panama | $$$$ |
| 121 | Hotel Doral | 20 | 238 | Panama City, Panama | $$$$ |
| 122 | Casa Relic | 20 | 81 | Panama City, Panama | $$$$ |
| 123 | Hostel Magnolia | 20 | 15 | Panama City, Panama | |
| 124 | Residencial & Hotel Palazzo | 10 | 753 | Panama City, Panama | $$$$ |
| 125 | Hotel Pension Corona | 10 | 583 | Panama City, Panama | $$$$ |
| 126 | Hotel 2 Mares Panama | 10 | 886 | Panama City, Panama | $$$$ |
| 127 | Hostel The Pod 33 | 10 | 274 | Panama City, Panama | $$$$ |
| 128 | Casa Del Sol Bed And Breakfast | 10 | 76 | Contadora Island, Panama | $$$$ |
| 129 | Cerrito Tropical Eco Lodge | 10 | 458 | Taboga, Panama | $$$$ |
| 130 | Innfiniti Hotel & Suites | 10 | 1595 | Panama City, Panama | $$$$ |
| 131 | Canova | 10 | 1561 | Panama City, Panama | $$$$ |
| 132 | Hostal Yoha | 10 | 636 | Panama City, Panama | $$$$ |
| 133 | La Moderna Downtown Nights By Wynwood | 10 | 166 | Panama City, Panama | $$$$ |
| 134 | Hotel Costa Azul | 10 | 2842 | Panama City, Panama | $$$$ |
| 135 | Amazinn Panama Casa Marroqui Boutique | 10 | 464 | Panama City, Panama | $$$$ |
| 136 | Backpacker Inn | 10 | 241 | Panama City, Panama | $$$$ |
| 137 | Sonny Island Resort Cabanas Frente Al Mar | 10 | 66 | Punta Bajo Rico, Panama | $$$$ |
| 138 | Amazinn Places Private Rooftop And Jacuzzi IX | 10 | 34 | Panama City, Panama | $$$$ |
