The investors indicated that after having evaluated multiple locations, the Dominican Republic and Cap Cana is the ideal place for the launch of this iconic brand.
The Chairman of the Board of Directors of Cap Cana, Fernando Hazoury, together with the Minister of Tourism of the Dominican Republic, David Collado and entrepreneurs Chris Schroeder and Mark Korros, officially announced the start of operations of the first Sports Illustrated Resort Marina & Villas Cap Cana developed in the world, in a brief meeting held at the Palacio de Santa Barbara, in Madrid, Spain.
The investors indicated that after evaluating multiple locations, the Dominican Republic and Cap Cana is the ideal place for the launch of this iconic brand.
Hazoury said that Sport Illustrated Resort’s digital expertise and the media power of its Sports Illustrated magazine, an icon in American sports culture for more than 65 years, has shaped the narrative around sports and in just one of its annual editions reaches some 70 million consumers a year, The cover of the magazine is the most coveted commodity in the sports media and one of the most recognizable honors in the American culture, which is the largest source of tourists to the Caribbean country, so it will significantly benefit the country.
He emphasized that Cap Cana currently has more than 3,400 hotel rooms with a view to multiplying them exponentially in the next two decades, thus contributing to the generation of more jobs, to economic growth, to the addition of recognized luxury brands that will help position the country in the world hotel market, to attract tourists with greater purchasing power and to build in the Dominican Republic the most luxurious and diverse hotel destination in the entire Caribbean.
He urged the country to continue with the current favorable climate for national and international private investment by guaranteeing legal security, transparency and speed of investment processes, giving priority to 100% of those coming from the private sector that generate more wealth, being aware that tourism is the backbone of the Dominican economy. “Our oil” he concluded.
Chris Schroeder, general director of Sports Illustrated Resorts said: “Cap Cana was chosen as one of the most unique sports and active lifestyle developments in the world, with world-class golf courses, an equestrian center, fishing and boating, as well as eco-adventure activities such as Scape Park, which offers zip lines and ATVs, and the new Sports City, which offers a world-class mountain biking circuit, sports courts and racquet sports such as tennis.
He indicated that Cap Cana has been a great ally working in close collaboration, and said that this has been just the beginning, as they work to expand other investments and developments in the Destination City and the Dominican Republic.
While Michael Sherman, executive vice president of strategy, business and tactical operations for Authentic Brand Groups (ABG), owner of Sport Illustrated added that the Dominican Republic and Cap Cana are the ideal sites to launch the iconic brand’s resort for being an irreplaceable master-planned community, with which they hope to strengthen their presence in a high-end destination.
“We look forward to being a key and strong promotional partner of the Dominican Republic and Cap Cana for many years to come,” he concluded.
The Minister of Tourism, David Collado, said he was excited to start the Fitur day by welcoming such a prestigious brand as Sport illustrated to the Dominican Republic, where he highlighted the great potential of Cap Cana for the size of the project and took the opportunity to congratulate the Hazoury family for having the vision to undertake this unprecedented real estate tourism development, and SI investors for this alliance that represents good luck and hope for Dominican tourism.
He highlighted that 2022 was a historic year which ended with more than 8.5 million foreigners by air and sea, and said that January 2023 points to projections of being the best January in the history of tourism in the Dominican Republic, noting that this is demonstrated by the recognition that the country has received from France, Italy, Germany, Spain, the World Tourism Organization and the WTTC.
Authentic Brands Group (ABG) is the owner of Sport Illustrated, and is a leader in the management of iconic brands with an annual turnover of 14 billion dollars, and more than 6 thousand stores in 150 countries.
Sport Illustrated (SI) is an icon of North American sports culture, and was selected by ABG to enter the global hospitality industry. All of its reach will be used by Sport Illustrated to promote Sport Illustrated Hotels & Resorts, directly benefiting Cap Cana and the Dominican Republic.
The announcement was made in the presence of the main executives of the Cap Cana Destination City, Dominican authorities, businessmen, friends and members of the press, during a cocktail party held at the Santa Barbara Palace in Madrid, Spain as part of the celebration of the International Tourism Fair (Fitur).