The agreement will result in an investment of US$200 million in Grupo Pinero’s Bahia resorts in both countries.
The agreement was possible as the three institutions share the belief that tourism can help local economies grow while simultaneously encouraging inclusive and sustainable tourism.
“Tourism is the world’s fastest and most immediate convertible economic activity. Therefore, this particular action today is so critical to the development of the Caribbean and the world. A statement is being made here about how we create debt rearrangement and financial infusion to enable faster recovery. That fast recovery must not be irresponsible, and that’s why the elements that deal with sustainability and resilience are so important,” said Bartlett.
The funding will assist Grupo Piñero in moving forward with the reopening and start-up of our hotels, as well as provide a boost in this stage of recovery and post-pandemic growth. Similarly, a revitalization of tourism activity in a sustainable manner that, in turn, allows for the attainment of a balance in the economic, social, and environmental fields.
Bartlett commended the partners, noting that the alliance being formed will have positive returns for the people of Jamaica. He shared that public-private collaborations of this nature are very important to boost the sector’s competitiveness and put tourism at the service of recovery in the most efficient way possible.
“I congratulate all the teams who are involved in this program today. The recovery of tourism is going to be predicated on strong business responses — private-public partnerships that will enable sustainability, ” said the Minister.
Among those in attendance were the President of the Dominican Republic, Hon. Luis Abinader, the Dominican Republic’s Minister of Tourism, Hon. David Collado; Chief Executive Officer of Grupo Piñero, owners of the Bahia Principe Hotels, Encarna Piñero and Senior Advisor and Strategist in Jamaica’s Ministry of Tourism, Delano Seiveright.
Grupo Piñero is a Spanish tourism group founded by Pablo Piñero in 1977. They have 27 hotels worldwide, including Bahia Principe Grand, which is the largest hotel in Jamaica.
What Grupo Pinero says:
Our attitude, our way of understanding the business
We exist to create exciting experiences, whether it’s while on vacation, living in one of our residences, or enjoying a golf trip.
And that is only possible if those of us who make up Grupo Piñero share the same values and the same way of understanding the world. Values that constitute the core of our company and that rest on the idea that our family is far more than the Piñero family. It’s a shared attitude.
This allows us to make our value proposition a reality by seeking business opportunities that allow us to grow and extend our philosophy to all our stakeholders, leaving a positive legacy in society and always betting on sustainability.
Bartlett is leading a small team in Spain to participate in the highly anticipated annual international travel and tourism tradeshow, FITUR, from January 19 to 23, 2022.
During his visit to Madrid, the Minister will meet with potential investors and key industry stakeholders. These include Robert Cabrera, owner of the Princess Resort, regarding a 2000-room development currently underway in Hanover; Diego Fuentes, Chairman, and CEO of the Tourism Optimizer Platform; representatives of RIU Hotels & Resorts regarding a 700-room hotel in Trelawny as well as other investors to discuss major projects in the pipeline.
He will also make several media appearances and meet with Spanish tour operators. He left the island on Saturday, January 15, and will return on Saturday, January 23.