MargaritaVille to exit Dominican Republic as Playa Group acquires Cap Cana hotel
Punta Cana.- The MargaritaVille brand is set to cease its operations in the Dominican Republic, with the Cap Cana hotel being acquired by the Playa Group. This development is already being discussed in top tourism and banking circles, indicating that the deal is nearly finalized.
As per sources from arecoa.com, Grupo Playa is poised to purchase a 65 percent stake in the property, which is currently owned by the Barderas family. Following this acquisition, Karisma, which has been managing the hotel for the past two years, will no longer be involved.
The new majority shareholders are reportedly in talks with Marriott to bring one of its brands to the Cap Cana hotel, replacing MargaritaVille. While this detail is yet to be officially confirmed, the source is considered highly reliable.
Financial specifics, such as the exit penalties for Karisma and MargaritaVille, are still being worked out. Speculation suggests a figure around 10 million dollars, but the exact compensation for MargaritaVille has not been disclosed. The exit of both companies from the Cap Cana hotel is expected to occur within the next few months.
The Playa Hotels Group is emerging as a formidable player in the market, with a strong commitment to expanding its presence in the Dominican Republic. The group seems to favor collaborations with North American brands, indicating potential future partnerships and operations in the country.