Previous reviews seem to be all over the place! From terrible to terrific.
What we found was somewhere in the middle. We stayed at the Hotel Centroamericano on three separate occasions in February 2011. Different rooms, but same reactions to the accommodation.
The good: Terrific location, near downtown Panama City. We found it to be a very safe location. Lots of taxis to take you anywhere in Panama City for $ 2 - 3. Three high-speed internet shops within 2 blocks ($1 per hour). Restaurant on site is ok (see below) Good restaurant on Balboa Blvd two blocks away. Several 7-11 type shops within two blocks. Quiet, if you request a room on the Pacific side of the hotel. Nearby hospitals do not seem to bring sirens. Floor staff very pleasant.
The not-so-good: Rooms are very basic. In all our three rooms, the air conditioner controls were inoperative. They were stuck on "Cool" so we were quite comfortable, but we had no say in the matter! Lots of mold in the showers. No carpets in the rooms. No bathmats. Small towels. Restaurant closed on Sundays, with VERY SLOW service other days. For some reason, the elevator does not go to the main floor, so you have to carry luggage a half-story up to get it. That, plus several steps up to the main entrance makes this facility a non-user friendly place for handicapped visitors. The desk staff at times is less than accommodating, professing no understanding of English and often acting quite grumpy!!!
If we were to return to Panama City, we would quite happily return to Hotel Centroamericano, knowing the situation. You get what you pay for, and the costs are quite reasonable.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC