Tourism November 30, 2015 | 10:41 am

Popular bank helps Barceló buy 2 Occidental hotels

Santo Domingo.- Thecountry´s biggest bank on Sunday said it´s the only financial institution in DominicanRepublic which forms part of the international banking group that finances thepurchase of THE Occidental Hotel Embajador in Santo Domingo, and the OccidentalGrand Resort in Punta Cana (east) by the Spanish group Barceló Hotels &Resorts.

It said seven largeSpanish banks handle the loan, in which Banco Popular participates with 7% ofthe funds.

It said it joined the financialoperation, with disbursement in August, “at the express request of the Barcelóhotel chain,” which saw its role as a leading bank in the tourism sector in thecountry and its 21-year relationship with the the Dominican bank.

"We´re verypleased with Banco Popular´s support, which is our main bank in the DominicanRepublic, where we have a large part of the Barceló Group´s investment," saidits chief financial officer Vicente Fenollar,

The executive called Popular"our partner in the country" because the tour group requires"modern and advanced financial services to efficiently manage a hotelbusiness that has local and international components and must find solutions forall of them."

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