Ritz-Carlton and the Luxury Collection are joining international luxury brands Aman (Cabrera in northern DR) and St. Regis (Cap Cana in Punta Cana) and expect to be operating in the Dominican Republic in 2025.
The local investment fund manager Pioneer is investing Dominican pension funds in the construction of the luxury hotels in the east coast beach areas north of Punta Cana. The resorts will operate under the Ritz-Carlton and The Luxury Collection, luxury brands of Marriott International.
Ritz Carlton is designing its first all-access hotel for the Macao area in northern Punta Cana. The concept is an innovation for the luxury hotel chain. Ritz Carlton is designing a community village with restaurants, bars and amphitheater.
The complex will house two of the chain’s hotels. One will be under the Luxury Collection brand, and the other will be branded “Ritz Carlton Punta Cana All Access.” The project will start with an investment of approximately US$250 million. This includes the 250 rooms of the Ritz Carlton, the 300 rooms of the Luxury Collection and 50 Ritz Carlton branded residential properties.
Pioneer already manages around US$450 million in tourism investment projects in the Dominican Republic. Speaking at the recent Asonahores Investment Forum, Pioneer executive vice president Yamil Isaias explained three million square meters were purchased for the development of hotels, villas and apartments envisioned. He says the development ensures high profitability for the funds from tourism employees’ pension funds.
The investors seek to begin construction in 2024.
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DR1 News
19 December 2023