BoqueteBug

I am not aware of any hotel near the Immigration office in PTY and you will be taking a taxi anyway.   I generally stay at the Milan Hotel  http://www.hotelmilan.com.pa/en/.  It is a short taxi ride away from Immigration.  Clean, safe and well priced - $40-$50.

The only drawback for me is the restaurant.   I really do not care for their restaurant but the good news is they are located in an area with many excellent restaurants within a block or two.

Thx Twin for the honest note about the restaurant!  Yes, we knew we'd be taxing to the office...wouldn't want to stay right next door!  Lol. Will probably try the filet at Martin F's, or some Italian food...anyone have a fav Italian place in this district as well? 

There is the Wine Bar / Pomodoros on the same side of the street as the Milan.   Just walk to the corner in the opposite direction of traffic (it is a one way).   It is right at the corner.  If the weather is nice they have a center courtyard.  Walk all the way thru the restaurant to be seated there.