The president of NH Hoteles, Gabriele Burgio of Spain visited to announce NH Hoteles will be operating two additional five-star hotels in the Dominican Republic, a US$150 million investment. NH Hoteles would be investing up to US$5 million in the US$150 million venture with other partners. The other partners were not named.
The hotels will be marketed as Hotel Bavaro Real Arena and Hotel VIP Real Arena. Burgio made the announcement at a press conference hosted by the Ministry of Tourism. Hotel Bavaro Real Arena will have 660 rooms and a convention center, while VIP Real Arena will have 375 rooms.
In 2005, NH Hoteles announced a first association agreement with Cap Cana to build a 90-room boutique beach hotel and 250 rental apartments in that development, which would be owned 50% each by NH Hoteles and Cap Cana, also along the East Coast beach strip.
The company made the announcement at a time when it is concentrating EUR1.3 billion in new hotel operations, primarily in Germany and Italy. NH Hoteles operates 258 hotels with 37,643 rooms in 19 countries in Europe, Latin America and Africa.