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A new US$85 million investment for a new hotel is announced

SANTO DOMINGO. With an investment of US$85 million, the Spanish tourism investment group Martinon announced the construction of a new 500 room hotel in Uvero Alto which will generate 700 direct jobs.

After meeting yesterday with President Danilo Medina in his office, the investors offered a press conference, in which they announced that the work will begin on 1 June and they expect to inaugurate the project in October 2016.

Fernando Escribano, a counselor of the Martinon Group, said that they are very pleased to once again have the support of President Danilo Medina, both for themselves as well as for the tourist sector in general.

He explained that this will be the sixth hotel that they have built in the country, since they arrived in 2007, building more than 2000 rooms so far, and contributing around 4000 direct jobs with a total investment of some US$500 million.

“Thanks to all of the support, the encouragement, and the facilitation of structures by the government of the Republic, we have managed to develop a tourist area which at this time is one of the most important and one of those which has the most future in the Dominican Republic,” he said.

For his part, Fernando Arencibia, the president of the project, said that the new project, designed for families, is a compliment to the Breathless Resort & Spy Punta Cana which was inaugurated last year.

He said that with the new hotel, the Martinon Group concludes the second phase of its presence in the Dominican Republic.

“The President has given us some very good news, and it is that the area is going to have a pair of schools for culinary support and training, and we have pledged our absolute collaboration in this sense,” said the businessman.

The investors expressed their satisfaction with the meeting with the President of the Dominican Republic and for the support they received from different national institutions.

They stressed the wager that the government has made in the development of the entire area where the new hotel will be built, which has permitted the development of a tourist pole of great importance and with the most future in the Dominican Republic.

“We will begin in a month and a half, and we are determined to maintain this project and carry it to the end and to continue betting on the Dominican Republic as a tourist destination of preference for the Martinon Group,” said Escribano.

At the same time, Arencibia reported that this project will be for families, and will complement another which the group possesses in Punta Cana.

He underlined that with these new 700 jobs, they have contributed nearly 3000 direct employments and another 2000 indirect jobs in the country.

Besides creating the corresponding direct and indirect jobs, the project will have a positive impact on the sectors that are traditionally related with tourism, such as farming and cattle raising, construction, transportation and the public and private services.

Investments

The director of the Center of Exports and Investment of the Dominican Republic (CEI – RD) Jean Allen Rodriguez, reported yesterday that this year foreign investment grew by 11%. He explained that this sector continues growing to such a point that it has surpassed the other countries of the region which, to the contrary, have seen a 20% decrease in their foreign investments.

He noted carefully that just this year foreign investments have surpassed US$2 billion and that in the last three years there has been a total of US$7 billion.

The official mentioned these terms during a press conference at the Presidential Palace, together with executives from the Martinon Group of hotel executives, who met with President Danilo Medina in order to show him the new project they will carry out in Uvero Alto.

The Martinon Group was founded in 1972 with the objective of building, developing and managing “all-inclusive” hotels in the Caribbean.

Growth

During 2014, the Dominican Republic reached the record number of 5,141,377 nonresident passengers, with the arrival of 451,607 additional visitors, equal to a year-to-year rate of 9.6% with respect to 2013. Regarding that which refers to Direct Foreign Investment, in 2014 this grew to US$2.208 billion, for a significant increase of 11% with respect to the same period in 2013. This increase was pushed by increases in investments in the commercial sector (50.3%), communications (36.7%) and finance (36.3%), among others.

Source: DiarioLibre

April 14, 2015

Category: DR News |

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Last updated December 2, 2016 at 1:59 PM
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