Grupo Piñero Presents Its Updated 2022-2025 Strategic Plan at FITUR

• After reviewing the plan, Sustainability is established as the central axis and Sustainable Growth and Innovation as the pillars of the company's strategy.

• Among the novelties presented for this year, the evolution of its Bahia Principe Hotels & Resorts division toward a new asset-light business model, which will materialize in the Cayo Levantado Resort project, stands out.

• The company will also continue to invest in Bahia Principe Residences & Golf and strengthen its strategic alliances to drive the division's growth.

Palma, January 20, 2022.- At FITUR, Grupo Piñero presented the latest developments and projects in its different business areas, all of which are part of the updating of its 2022-2025 strategic plan, which, in keeping with its goal of continuing to create exciting experiences, has consolidated sustainability as a central theme, along with Sustainable Growth and Innovation as pillars of its strategy.

Based on this, Grupo Piñero's Sustainability strategy is aligned with that of the company, incorporating environmental, social and good governance - ESG - criteria in all its decisions and projects, with the aim of becoming a benchmark in Sustainable Development.

Meanwhile, through Sustainable Growth, the group will drive the evolution of the company to strengthen its viability and generate value, while through Innovation, it will continue to steadily improve the business by launching pioneering global projects and promoting digitalization aligned with the strategy.

Bahia Principe Hotels & Resorts, Toward an Asset-Light Model

In line with the updating of its strategic plan, Grupo Piñero will accelerate the growth of its different business units in 2022. In this regard, the Bahia Principe Hotels & Resorts division will evolve its business model throughout the year toward asset-light growth. In this way, the company expands into new lines of business, a milestone that will allow it to grow, both in terms of brand and geographic scope, without losing its all-inclusive vacation identity.

Cayo Levantado Resort Project, Pioneers and Benchmarks in Dominican Republic

Another of the company's major milestones will be the Cayo Levantado Resort project, located in the bay of Samaná in the Dominican Republic, which after a complete renovation will be launched in the last quarter of the year, and will invite you to discover the other rhythm of the Dominican Republic, the "Ritmo Escondido" (A Rhythm all its own).

The concept of " A Rhythm all its own " becomes real in the experience and has inspired the resort's renovation, which will be based on three pillars of sustainability: Environment, being a benchmark as a self-sufficient resort, focusing on renewable energy and a waste management strategy, in addition to opting for native gardening and landscaping; Local Culture, one of the great strengths of the project is the incorporation of talent from the Dominican Republic like designers, interior designers and architects, thus contributing to the economic development of the area, and above all, integrating culture in all areas, including gastronomy and mixology; and Wellness, relaunching this concept from a more integrative perspective, by offering a 360º vision in the customer experience that encompasses all areas of the resort such as health, food, wellness sports, relaxation, retreats, spa, etc.  

In this sense, beyond the comprehensive refurbishment of the establishment, the project will give the future resort an exclusive and differential positioning, giving rise to a novel concept with its own personality. To this end, in the development of the project, Grupo Piñero has established an alliance with Forbes, with which it will work to create standards and train personnel, guaranteeing that the establishment will meet the highest standards of quality, luxury and hospitality.

In the words of Antonio Teijeiro, COO (Chief Operating Officer) of Bahia Principe Hotels & Resorts, "We want to position the Cayo Levantado Resort project as a benchmark in the Dominican Republic, a reference of sorts, which will also allow us to get started in the asset-light business model and showcase our ability to undertake such an ambitious project in such a successful way." He added, “This major milestone also demonstrates Bahia Principe Hotels & Resorts' commitment to improving the offer and adding value to the tourism sector, as well as its contribution to the development of the country and the local community.”

Focusing on New Lines of Business

Bahia Principe Hotels & Resorts begins operating this year with a new line of business focused on film productions. Tropic One Film Services was created with the objective of encouraging and facilitating film and audiovisual services in the properties that Grupo Piñero owns in different destinations where it is present.

The birth of this new line of business highlights how since its origins Bahia Principe Hotels & Resorts has played an active role in the promotion of culture and audiovisual creation, both nationally and internationally, as well as in the collaboration and co-production of various international film productions.

Driving the Growth of Bahia Principe Residences & Golf

As for Bahia Principe Residences, throughout the year the company will invest in improving the amenities and services of its developments in order to offer the best experience to its guests. It will inaugurate the first phase of the Tulum Country Club in its residential complex in Mexico and will build an international school to serve the community.  At Playa Nueva Romana (Dominican Republic) it will open a leisure and business club and invest in improving its beach as part of the Group's Integral Coastal Plan.

It has also signed an agreement with BID Invest to form a task force charged with investigating solutions that will help to become more resilient to climate change in their territories in order to apply them to their projects.

For its part, the Bahia Principe Golf division will strengthen its alliances with the Troon Golf and PGA of America organizations, with the purpose of making itself known in the North American and Canadian markets, and its investments will be aimed at improving the quality of its facilities and implementing PGA golf academies at its golf courses.