Panama City is arguably the most cosmopolitan destination in Central America. Its waterfront Avenida Balboa (built to the tune of $190 million) is lined with tropical vegetation and glimmering glass high-rises -- many of them housing some of the most luxurious hotels in the city. The bar for luxury is high here; Panama City is a place where even mid-range hotels boast upscale features like rooftop pools and valet parking. So our luxury picks below are truly the creme de la creme.