Tourism December 14, 2023 | 1:57 pm

Puntacana Group CEO advocates for expansion of luxury tourism in the Dominican Republic

Santo Domingo.- Frank Elías Rainieri, CEO of the Puntacana Group, has emphasized that the Dominican Republic is currently in an ideal position to expand its luxury tourism offerings. He highlighted the critical support of the banking sector, which recognizes the maturity of the tourism industry and the economy’s readiness for such high-end projects.

Rainieri noted the significant investment required for luxury accommodations, stating, “Building an average hotel room may cost between $200,000 and $250,000. In a luxury hotel, this investment can range from $500,000 to a million dollars, offering a different return on investment.” He pointed out that banks are now well-prepared and knowledgeable enough to support these ventures.

The CEO identified a substantial market segment of tourists spending between $1,000 and $2,000 per person, which he believes the country should aim to attract. He underscored that luxury hotels could boost consumption by $200 to $250 per stay. His insights were shared during his presentation at the Sixth Tourism Investment Forum organized by Asonahores.

Rainieri also emphasized the importance of attracting luxury hotel brands that instill confidence in tourists. He noted that increased investment and thoughtful distribution of spaces are crucial for enhancing the luxury tourism offering in the Dominican Republic.

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