Last year at the Fitur tourism fair, the bank signed more than 230 million dollars.
Tourism is one of the most important portfolios of Banco BHD because it has a multiplying effect on the entire Dominican economy, said Luis Molina Mariñez, senior vice-president of Corporate Business Banking of BHD.
Molina pointed out that last year at the Fitur tourism fair, the bank signed more than US$230 million in tourism projects, which will be disbursed between 2023 and 2024.
He noted that one of the large projects in which they invested was in the Dreams Flora Resorts & Spa hotel, whose financing for remodeling and rebranding was granted by the BHD for US$ 56.8 million.
“We last year signed more than US$ 230 million in tourism projects, this is one of those projects, it is a US$ 78 million project, the bank financed more than US$ 55 million and today it is a reality with 504 rooms and more than 1,000 people employed,” he explained.
Participating in the inauguration of the Dreams Flora Resorts & Spa, Molina, within the framework of the Date 2023 tourism fair, said that the hotel takes care of the environment and was managed with a sustainable ecological criterion that meets the bank’s objectives.
Another project in which the BHD invested, Molina said is of the Punta Cana Group with the construction of the W Hotel, in Ubero Alto, in partnership with Mac Hotels which is high luxury and is a project of more than 150 million dollars of investment.
“The bank puts a part and the shareholders the other, only in these two projects there are 130 million dollars, the bank follows this type of business to support development issues,” said Molina.
The executive said that they are also interested in investing in the southern region, specifically in Pedernales “the interesting thing about this is that it points to a diversification of tourism, not only in the east or north, but throughout the country; There are a series of things that the Government is doing at the infrastructure level, electrical connection, improving roads, aqueduct and all this will facilitate private investment, they have already started to build hotels that in fact have financing that can be us or another bank, but this is making the banks interested in this new tourist pole that is being developed”.
In this sense, Molina said that the bank does not have a particular amount to invest in tourism, but at a business or risk level, what they see is an attractive and controlled risk sector “and the bank invests in a safe way and in this case tourism is a safe investment, because it is one of the fastest growing sectors and it really has resilience”.
Likewise, Molina highlighted that they are also interested in investing in complementary offers to this sector such as parks, restaurants, among others.
“When the government and the private sector work, then the bank, what it does is analyze risk and invests in that sector,” said the BHD executive.
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