Grupo Piñero will invest $60 million in innovating its Living Resorts division in 2020

• It will spend $40 million to fully refurbish the Bahia Principe Grand Tulum Hotel in Mexico, a destination where it has just celebrated its 20th anniversary. 

• It will also expand the range of offerings of its tour operator Soltour, consolidating its presence in the Caribbean with new circuits and reaching new destinations like Cape Verde, Egypt, Sardinia, Djerba (Tunisia), or Cartagena de Indias. 

Palma de Mallorca. 23 January 2020.- Grupo Piñero, a Spanish tourism company with more than 40 years of history, faces 2020 with the reinforcement of its strategic plan that is evolving based on its three axes: innovation and development, digitalisation and sustainability. 

In this way, this year the company will be committed to a firm reinvestment policy that will give continuity to the work begun in 2019, in order to consolidate its products and improve its services. Grupo Piñero plans to invest around $60 million in its Living Resorts division, which encompasses its hotel, residential and golf business under the Bahia Principe brand. Specifically, it will be spending $40 million in fully refurbishing the Bahia Principe Grand Tulum (Mexico), which is expected to conclude by the end of the year and will involve the renovation of its 978 rooms and common areas. 

The rest of the investment, amounting to $20 million, will be concentrated on innovating other hotel facilities and its residential complexes in the Dominican Republic and Mexico. It will also invest in developing its Bahia Principe Golf division through the recent deal signed in Mexico with the USPGA, which will reinforce its position in the American market together with one of the industry's most powerful brands. With 29,000 members, the Professional Golfer's Association of America (USPGA) is the world's most important sports organisation.  

In the words of Jaime Sitjar, Managing Director of Bahia Principe Residences & Golf: “This agreement reinforces our strategy of continuing to create exciting experiences for our clients, and also contributes to strengthening our commitment to the golf segment and to the growth of this sport in our destinations, as well as to positioning our brand in the American market. In addition, as of December 2020 we will be extending this alliance with the PGA to our facilities in the Dominican Republic.” 

As for its Travels division, Grupo Piñero will work in 2020 to bolster its the positioning of its tour operator Soltour, consolidating its presence in the Caribbean with new circuits and reaching destinations like Cape Verde, Egypt, Sardinia, Djerba (Tunisia), or Cartagena de Indias for the first time. In addition, for the third year running, it will be maintaining its weekly direct flight connecting Madrid with the Dominican region of Samaná from June to September. 

Encarna Piñero, the company's CEO, pointed out that “our strategy is currently focused on continuing to innovate in order to consolidate and improve the foundations of all our brands and products, which have led us to become one of the top tourism groups on a global scale.”  

Digitalisation and sustainability as strategic levers 

Sustainability is an essential part of the company's business management, and it has the direct involvement of senior management. In keeping with this tenet, Grupo Piñero will continue with its contribution to the United Nations Sustainable Development Goals, promoting responsible management throughout the company.  

To this end, throughout 2020 it will promote the development of several projects such as the Integral Coastal Management Plan, to achieve sustainable management of the territories in which it is present, the Equal Opportunities Plan, with the aim of providing value in society, and the reinforcement of its Healthy Company programme, to improve the physical, mental and social well-being of its more than 15,000 professionals and their families.  

In addition, in response to its firm commitment to sustainability, the company has publicly stated its commitment to reduce CO2 emissions by 60% by 2030. 

Grupo Piñero will continue its commitment to digitalisation as a means of growth through the application of pioneering technologies such as artificial intelligence and Big Data with two objectives: to interact more closely with and get to know its clients better, and to improve its efficiency. 

A challenging year for the tourism industry 

2019 was a year characterised by instability due to all the events that have affected the evolution and performance of all the actors in the tourism industry. Even so, it has been a year of consolidation for Grupo Piñero, which expects to close with a turnover of around 800 million euros and in which its last two refurbishments and openings have exceeded all expectations in terms of occupancy and reputation.  

More specifically, Bahia Principe Luxury Ambar, located in the Dominican Republic, whose renovation involved a $28 million investment, closed its first year after the reopening with an average annual occupancy rate of 90%, a NPS of 60 points and a GRI of 93.4%. For its part, Bahia Principe Fantasia Tenerife, inaugurated in November of 2018 with a total investment of €89 million, reported an annual occupancy rate of 87%, a NPS of 41 points and a GRI of 90.3%. 

These data are in line with the average reputation indices obtained by the hotels in its Living Resorts division which, in 2019, achieved a GRI of 90.6% and a NPS of 35 points. Moreover, they have been recognised with multiple quality distinctions and awards granted by sales channels and reputable online platforms like TrypAdvisor, Apple Vacations, HolidayCheck or Booking.com.