THE PIÑEIRO GROUP INVESTS 50 MILLIONS

Source: Europe Press.

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http://www.lukor.com/not-neg/empresas/0601/23171220.htm

Economy/Companies. - The Piñero group invests 50 millions in four luxury resorts in the Dominican Republic.

MADRID, 23 (EUROPA PRESS)

The hotel chain Bahía Príncipe, who belongs to the Piñero group, will invest 60 million dollars (about 50 million euros) in the acquisition and remodeling of four resorts with more than 900 rooms, so that the company will add seven establishments in the country and will have a total of 3,600 rooms, informed today Antonio González, the person in charge of Marketing of the hotel firm Bahía Príncipe.

In the presentation of the promotion that the Dominican Republic will make in the Feria Internacional de Turismo (International Tourism Fair) in Madrid (Fitur) 2006, González indicated that these hotel acquisitions, whose inauguration is predicted for the season 2006-2007, respond to the bet of the group in the Latin American country, that, in his opinion, has a tourist potential with the opening in the next month of November of the new airport in the zone of Samaná.


In particular, the chain has destined the investment, on the one hand, in the acquisition of three establishments of five stars located between the Bahía de Samaná (Bay of Samaná) and the Bahía Escocesa (Scottish Bay) and, on the other hand, in the purchase of a hotel, that was in phase of construction in Cayo Levantado (Raised Key), as well as in the operation during 50 years of the island where it is located. This last establishment will have a category of five stars Great Luxury.


In this sense, González indicated that the objective of the company is to turn the resort of Cayo Levantado, that has a colonial design and style, in a “referring tourist spot”, and added that the four establishments will have a regime of an “all-included” package. In particular, the hotel Gran Bahía Príncipe Cayo Levantado will have a capacity of 191 rooms, among which it will have junior superior suites distributed in 12 villas of 8 rooms, suites, rooms “Villas Playas” (“Villas Beaches”), and standard rooms. Also, it will have 4 restaurants, other 4 bars, 2 tennis courts, 1 paddle court, and heliport.

On the other hand, the Gran Bahía Príncipe Cayacoa will offer 223 rooms, among which there will be junior suites and suites with views to the sea and standard rooms, whereas the establishment Gran Bahía Príncipe Samaná will have 103 rooms. Also, the Piñero group will have the Gran Bahía Príncipe El Portillo.

EAGERNESS TO INCREASE ITS PRESENCE IN THE DOMINICAN REPUBLIC.


These new openings are added to the three hotels that the company already has in the Dominican Republic, two of them, with a category of five stars, are located in Punta Cana -Gran Bahía Príncipe Punta Cana and Gran Bahía Príncipe Bávaro- and the other in Playa Grande –Gran Bahía Príncipe San Juan.


In this sense, González affirmed that the hotel chain is going to continue extending its presence in the Dominican island in the next years with the acquisition of new establishments and the construction of resorts. In particular, he asserted that the company hopes to open at the end of 2007 a hotel in the Bayahíbe zone (Southeast of the country).


Bahía Príncipe has three establishments in Mexico, although it hopes to initiate another hotel project with golf course in that country and to inaugurate another resort in Jamaica the next month of November. Also, it has two other hotels in Tenerife –Bahía Príncipe Costa Adeje and Bahía Príncipe Tenerife-. The Piñero group besides having the hotel chain Bahía Príncipe, has the hotel firm Piñero Hotels, with establishments of three stars, and the tour-operator Soltour.