Hotel and resort operator Kempinski has announced its re-entry into Latin America with the signing of a management contract for a new luxury resort in Colón Province, Panama.

The new property is under development by Two Oceans Group on the coast of the the Caribbean Sea, near the town of Portobelo on the Northern Isthmus of Panama.

Scheduled to open in 2015 the beachside resort will feature 106 rooms and suites - all with ocean view - a large spa, outdoor and indoor pools as well as a plaza area featuring restaurants, boutique retail units and entertainment facilities.

A total of 75 private Kempinski Residences are also planned from which 40 are directly located at the sea.

The Panama opening is part of Kempinski's long-term growth strategy for Central and South America with projects in Cuba, the Dominican Republic, and Rio de Janeiro.

Reto Wittwer, president and CEO of Kempinski Hotels, said he is excited about the return of his company in the Latin American market.

"After an absence of almost 15 years, now is the time to re-enter these growing markets," he said.

"The region increasingly attracts tourists and our goal is to inspire in particular travellers from Europe and America with this new resort."