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Wednesday,  May 22, 2024 4:32 AM 

Grupo Piñero posts 8% sales gain in 2017 results

Grupo Piñero posts 8% sales gain in 2017 results
Grand Bahia Principe Jamaica

Bahia Principe’s parent company Grupo Piñero reported an eight per cent sales increase and five per cent EBITDA increase from 2016 in its 2017 financial results, released this week at the International Tourism Fair (FITUR) in Madrid.

The results mark a sixth year of growth for the brand and gross operating profit of US$250 million and Bahia Principe Hotels & Resorts, which accounts for 72 per cent of the family-owned business, achieved 82 per cent occupancy for the year.

The hotel brand attributed the figure, a 6.5 percent increase from 2016, to an 82 percent average occupancy rate throughout the year at 24 properties in Dominican Republic, Mexico, Jamaica and Spain, with more than 13,000 rooms.

Grupo Piñero CEO Encarna Piñero attributed the growth to the “enthusiastic reaction by our customers to the latest addition to our brand, Luxury Bahia Principe Fantasia, in Playa Bavaro, Dominican Republic, and the encouraging activity in our main outgoing markets.”

In 2017 Bahia Principe also unveiled its second 18-hole professional golf course at Playa Romana Nueva in the Dominican Republic, its fourth golf course overall. Turiscar, the brand responsible for the design, pre-assembly and marketing of electric vehicles, also contributed to the group’s increase in sales, adding 400 units to its fleet that serves Bahia Principe and other hotel establishments in Dominican Republic, Mexico and Jamaica.

In late 2018, Bahia Principe will unveil its 25 hotel, Fantasia Bahia Principe Tenerife in Costa de San Miguel, Tenerife, with 372 rooms and representing a US$98 million investment.