Grupo Piñero to invest more than €100 million in 2023

• It will continue with its 5-year socially responsible investment plan focusing on innovation and sustainable growth.
• By business lines, most of the investment will go to its Hotel division with €70 million, followed by the Bahia Principe Residences & Golf division with €16 million, and €6 million for the Travel and Mobility divisions.

Palma, January 18, 2023.- Grupo Piñero will invest more than €100 million in 2023 as a result of the recovery and increase in business activity in all its business lines. The company is thus continuing with its 5-year strategic investment plan, which focuses mainly on innovation and sustainable growth. By business lines, most of the investment will go to its Hotel division with €70 million, followed by the Bahia Principe Residences & Golf division with €16 million, and €6 million for the Travel and Mobility divisions.

Constant renovation of hotels

In order to continue surprising and satisfying its clients, the investment made by Bahia Principe Hotels & Resorts is mainly focused on the renovation of assets, incorporating the latest tools and technology both for entertainment and for efficiency in the conservation and saving of resources.

In this regard, the biggest refurbishment to be carried out involves the Bahia Principe Luxury Esmeralda Hotel (an investment of €30 million), which is scheduled to reopen in December 2023.

Four other hotels in the chain (Bahia Principe Luxury Akumal in Mexico, Bahia Principe Grand Punta Cana, Bahia Principe Grand Bavaro in the Dominican Republic and Bahia Principe Grand Jamaica) will continue to undergo renovations with a total budget of $40 million. Among the main actions being carried out, the renovation of several leisure areas and the creation of new gastronomic concepts that guarantee the brand's standards stand out.

Other investment pillars will include the environmental pillar, as a result of the company's commitment to sustainability, which is one of the central pillars of its strategic plan. Grupo Piñero will invest more than €4 million under the Natural Capital strategic axis, specifically in its Integral Coastal Management Plan in all its Caribbean destinations, and an additional €2.5 million in the Energy and Climate axis, for energy control and savings in the resorts.

In addition, it will invest €5 million in digital transformation projects to improve the customer experience and make the Back Office more efficient.

Improved services in Residential & Golf

Grupo Piñero will allocate €16 million to its Residential & Golf division, where the money will be used mainly for service improvements. Thus, in the Dominican Republic, the Beach Club and Golf Clubhouse will be improved and refurbished, in addition to the creation of walkways for the enjoyment of all the services of the Beach Club overlooking the Caribbean Sea. In addition, work on the "AIRE" leisure and business center will be completed.

In the case of Mexico, the most significant investments will involve the renovation of the old clubhouse, which will become the Members Club, the construction of the first phase of the German School, a coworking center integrated into the Mexican jungle, and the completion of the first phase of the Tulum Country Club sports facilities and the supermarket.

The Group's Travel and Mobility divisions will invest heavily in Mexico and the Dominican Republic (€4.5 million) in 2023 as a result of the recent Coming2 alliance with Air Canada Vacations. This alliance will involve the opening of new operational offices in both destinations and will increase the number of staff with the hiring of 50% more personnel to reinforce the quality of its services.

In addition, the land (Solbus) and maritime (Embat) transportation brands in the Dominican Republic will also benefit from the renewal of 45% of the fleet and the acquisition of new vehicles (€1.5 million).