Frank Elías Rainieri, CEO of the Puntacana Group, considered that the Dominican Republic is at its best moment to increase luxury offers, since it has the support of a banking sector that understands that the tourism industry is mature and that the economy is ready to embark on this type of project.
“The construction of an average hotel room can cost between $200,000 and $250,000. In a luxury hotel you will spend from 500,000 to one million dollars of investment, and the return is different. And the banking sector is already prepared and has the knowledge to do it,” he said.
He explained that there is “a very important market” of tourists whose spending is between 1,000 and 2,000 dollars per person that the country should aspire to accommodate.
He emphasized that “only luxury hotels” can increase consumption between 200 and 250 dollars during his presentation at the Sixth Tourism Investment Forum of Asonahores.
He indicated that the attraction of luxury hotel brands that bring confidence to tourists, added to a greater investment and distribution of spaces are necessary to provide the offer.