Santo Domingo, RD.- Advanced Asset Management (Advanced) has officially acquired the renowned Jewel Punta Cana tourist complex in Uvero Alto through its Advanced Oportunidades II Closed Development Investment Fund.
Undergoing a comprehensive renovation, this property will adopt a brand of high international prestige and will be operated by Playa Hotels & Resorts. The strategic transaction, involving a total of 620 rooms, was successfully closed on Friday, December 15, 2023.
In addition to this acquisition, Advanced Funds have been actively investing since February 2023 in a tourist complex in Las Galeras, Samaná. This property is set to undergo a transformation under the Wyndham Alltra brand, an exclusive hotel chain renowned for its focus on all-inclusive resorts in the region. These strategic investments underscore Advanced’s commitment to advancing the tourism sector and providing innovative solutions to guests and clients.
The management of both resorts will be overseen by Playa Hotels & Resorts, a prominent global asset management company boasting a current portfolio of 26 hotels with a combined total of 9,756 rooms.
The transactions in Samaná and Uvero Alto mark a significant achievement in Advanced’s strategy to broaden its presence in the country’s tourism sector. At present, Advanced Funds solidify their leadership in the local market with the construction of over 1,000 rooms in managed assets.