Hi Suzie
Know St Konstantin very well, in fact stayed at the Grand Hotel Varna last September.
I have never been in the Panorama but know exactly where it is. I believe it has been redeveloped from the former rest home called in the past Dom Minori.
It is on the main Varna-Golden sands road about 5-10 minutes walk to the beach, and very close to the bus stop.
The prices are a bit cheaper than G.S. but not as cheap as Varna.
There is a little train which goes around the resort but doesn't pass the Panorama unfortunately you would need to walk a couple of minutes through the woodland to get it.
Anything else, please ask.
Patka