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Occidental Hotels in DR for sale

Occidental Hotels & Resorts is looking for a buyer for its Hotel El Embajador in Santo Domingo and the Royal Club Grand Punta Cana and Occidental Grand Punta Cana Resort in Punta Cana. As reported, Inditex (majority shareholder of Occidental and the investment bank Morgan Stanley) are overseeing the quest for a buyer. As reported in Diario Libre, this week Morgan Stanley announced the finalists for the purchase as Spanish hotel firms Iberostar and Barcelo, Hyatt and Marriot from the United States, and Mexico’s Posadas. Morgan Stanley chose the investment fund CPG for the operation.

Reportur of Mexico says that AMResorts is also interested in the operation.

Source: DR1, DiarioLibre

Category: DR News |

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Last updated December 5, 2016 at 9:13 AM
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