Who is the owner of Renaissance Jaragua Hotel and Casino ? Any idea ?

I do not know about the hotel, but the Casino is owned by Steve Vincent, an American from Florida.

Steve

A 2 second Google search would have answered your query...

Santo Domingo Hotels I Renaissance Jaragua Hotel in Santo Domingo Dominican Republic

In short, yes, the hotel is a Marriott owned facility. The casino is not operated by the hotel, but is under management.

The man is from Pakistan, we had lunch with him a while back, Robert, AZB and myself.

Well he claims to have bought it or is in the process of buying it. The hotel will go through 55 million dollar renovations. The casino maybe owned by someone else.
AZB

Hi All

I was with the head of the casino a couple of nights back - the Pakistani is not buying the place or even in the running to buy the place currently. Actually, no one has heard of him lately - he has left the country - seems he could not handle the simple methodology of doing business in the Dom Rep...... I suppose he left on his private jet

a secret deal is currently in the works and AZB is behind it all! He owns hotels all over DR!

The pakistani guy is here and I have spoken to him just 4 days ago. He has changed his number from claro to orange for better service. I think he is having some legal issues in buying casinos and hotels. He is supposed to be buying up a casino in santiago as well. I don't know, lets take a trip to his house.He is inviting me to his place. He may not be the sole owner but he is representing a group. Lets see what comes out of it.
AZB

i knew you were involved in this deal somehow AZB! We need to hang out later this month when I come through! LOL

here goes!

AZB said:

The pakistani guy is here and I have spoken to him just 4 days ago. He has changed his number from claro to orange for better service. I think he is having some legal issues in buying casinos and hotels. He is supposed to be buying up a casino in santiago as well. I don't know, lets take a trip to his house.He is inviting me to his place. He may not be the sole owner but he is representing a group. Lets see what comes out of it.
AZB

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The group has been trying to buy the hotel that I know of since before September of last year. I was called in to finance the purchase and additions to the hotel. They are connected to middle eastern group. Can't go or won't go into any details, but as far as I know they have not gotten funding yet as they have another middle easterner they were working with. They do a lot with Marriott and have a number of properties in the U.S. They have offices in the US.

AZB, say hello for me!

JRR said:

The group has been trying to buy the hotel that I know of since before September of last year. I was called in to finance the purchase and additions to the hotel. They are connected to middle eastern group. Can't go or won't go into any details, but as far as I know they have not gotten funding yet as they have another middle easterner they were working with. They do a lot with Marriott and have a number of properties in the U.S. They have offices in the US.

AZB, say hello for me!

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Well, I don't know any details either, just what he tells me and I don't talk to him that much anyway. Its a group he is representing and they are in the process of purchasing the hotel and a couple of casinos. They are even in negotiation of buying a casino in santiago. So lets wait and see what happens.
AZB

new info!

AZB said:

Well, I don't know any details either, just what he tells me and I don't talk to him that much anyway. Its a group he is representing and they are in the process of purchasing the hotel and a couple of casinos. They are even in negotiation of buying a casino in santiago. So lets wait and see what happens.
AZB

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Just for the record I just checked the people that originally listed the property and who they were buying it from. It is no longer listed for sale on their site so they may have finally gotten the funding. We had another conflict...basically stupidity on their part.

So you are saying my friend's group has bought the hotel and the casino?
AZB

sorry but I have no new info. Actually, I don't even have any interest in these deals. The person happens to be pakistani and a very cool guy. I am just getting to know him, I have no clue as to what has happened or what will happen in the future, regarding hotel sale etc.
AZB

Such a nice hotel - the propert is just beautiful. I bet that the 55 million bucks will really make the place awesome!

I sure hope that they save $10 dollars and invest in some Lysol for the Casino. It has the combo smell of Feet, Funk, Cigarettes, Booze, and Azzz

:cheeky:

$55 million renovation seems unrealistic. I spoke last week with a person who was present once at a breakfast of his boss in Jaragua exec level last February. The boss (a rich Dominican very close to Dr. LF) was involved in brokering the deal between a Jewish real estate mogul from New York and the owners of the hotel. The owners of the hotel were supposedly some Chinese people (from China, not from the DR).

The deal was 17 MM$ asking price + 20 MM$ renovations. The hotel was being sold because the owners owed a lot of money to Marriott. Also Marriott wanted to upgrade the hotel to full scale Marriott (and not just Ranaissance) and the Chinese didn't have money to do that. Because the Chinese owed Marriott several years of management and franchise fees, the Marriott basically was/is forcing them to sell.

The deal did not go through because the Jewish guy wanted to pay 15 MM$ and 17MM$ put into renovations. This was supposedly back in February.

This is the info I heard. Do not know the %% of truth. It comes from a very close employee of this Dominican guy who is doing the Aventura concert in Santiago and who did Aventura in NY last year. He is supposedly very VERY close to LF (drinking buddies) supposedly organized all the PLD campaign music concerts and he got a free 70-year lease of hotel Monta?a in Jarabacoa along with 300+ acreas of terrain.