Grupo Piñero, parent company of Bahia Principe –all-inclusive resorts in the Caribbean – reported its 2018 financial results at the International Tourism Fair (FITUR) in Madrid, Spain, including posting an income of US$982 million, surpassing the $900 million mark for the second consecutive year.
Bahia Principe Hotels & Resorts, along with the company’s residential and golf offerings, accounted for 70.1 percent of the family-owned business, reporting an income of more than $643 million. Grupo Piñero invested more than $120 million in this business unit in 2019 in efforts that included opening Bahia Principe’s 25th hotel, Fantasia Bahia Principe Tenerife, completing a renovation of Luxury Bahia Principe Ambar in Punta Cana, and initiatives aimed at improving efficiency and digitally transforming the company.
“In 2019, our reinvestment policy will focus on further differentiating our product, continuing to improve efficiency and completing a digital transformation of our organization,” said Encarna Piñero, chief executive officer of Grupo Piñero. “To be a sustainable company that efficiently manages its resources, we need economic and technological means, but above all, a motivated team that shares our vision.”
In 2018, sustainability continued to serve as a guiding principle for the company which holds a firm conviction in the importance of making a positive economic, social and environmental impact in the countries in which it operates.