Here are a couple of standard hotel recommendations for a stay over in Panama City.
The Veneto Hotel :http://www.venetocasino.com/ The Veneto Hotel is praised as being one of the best in Panama City… it is a decent hotel. It is nice, clean, and the service is very helpful. 
It is also in a good location, but the value is a little less than the price tag.
It is also in a good location, but the value is a little less than the price tag.The Radisson Decapolis: http://www.radisson.com/panamacitypan The Radisson is better for business as it is located in the center of the modern city of Panama. I have never heard any complaints from guests staying there: rooms are clean, staff is nice and helpful.
The Marriott Hotel: http://www.marriott.com/hotels/travel/ptypa-panama-marriott-hotel/ The Marriott provides everything you would expect from a Marriott, the only unpleasant addition for some is that of “working girls” coming in and out.
The Amador Ocean View Hotel: http://www.amadoroceanview.com/brisassp.htm This hotel is located on the Amador Causeway. I love this hotel because it has a balcony with a view of the sea, its new, its surrounded by restaurants with all different kinds of food, there’s a nightclub, and the Causeway is also a 5-kilometer road linking 3 Islands where the cruise ships arrive to the country and you can walk around pretty much at any time and enjoy the breeze off the water.
An American Gringo in Panama a few times, I’ve enjoyed staying next to and near the Veneto at the Torres de Alba. The reason I like it there so much is that it provides a true apartment hotel. 1 and 2 bedroom apartment hotels are offered in these twin story buildings. There are no restaurants or fancy accommodations… the pool’s not great. But… it’s in a great location, and if you need or would like a full kitchen with big refrigerator, washer/dryer, with the option to have a 1 or 2 bedroom apartment, look no further. Though it’s been one year, next trip, I’m staying there again because when traveling with kids, there’s just no place easier – except Decameron.