Grupo NH Hoteles of Spain announces they have signed an association with Cap Cana on the East Coast of the Dominican Republic for the 50-50% joint ownership and development of a luxury resort property. NH Hoteles will build a 90-room boutique hotel with a gourmet restaurant on the beach and 350 luxury apartments. The joint venture calls for a US$100 million investment.
Cap Cana is located 10 minutes from Punta Cana International Airport. Jack Nicklaus is building a signature golf course, Punta Espada, which is due to open later this year. NH Hoteles operates the Sotogrande golf and residential tourism development in Spain, in addition to being ranked third in business hotels in Europe.
See http://www.nh-hotels.com/portal/page?_pageid=9,244206…