Arturo Villanueva, vice president of hoteliers association ASONAHORES, said yesterday that if the Dominican tourist industry does not receive the same tax conditions as its competitors in the region, it would lose some of its market share. He said that 70% of hotel rooms in the country are managed by foreign companies that may consider transferring their business to more profitable locations. He made this comment when announcing the XIX Trade Exhibition that is due to take place at the Hotel Dominican Fiesta from 31 August to 3 September. He announced that more than 90 companies would be exhibiting their goods and services. The hotel sector has complained that the government’s decision to restrain money in circulation by increasing the quasi-fiscal debt from RD$90 billion to US$140 billion in savings certificates has led to an approximate 25% excess appreciation of the peso against the US$ dollar. At a time when the peso is overvalued, wage and electricity costs have been increasing, affecting the sector’s profitability. The sector is currently requesting a lower ITBIS (VAT) rate in order to remain competitive.