SANTO DOMINGO.- Banco BHD received the award for outstanding transaction of the year from the Dominican Republic Hotel and Tourism Association (Asonahores) for the US$78.8 million financing agreement for the Hyatt Vivid Palm Beach project, located in the province of La Altagracia.
The award was presented by the Minister of Tourism, David Collado; David Llibre and Aguie Lendor, respective president and executive vice president of Asonahores, to Luis Molina Maríñez, senior vice president of Corporate and Business Banking at Banco BHD, within the framework of the Asonahores Tourism Investment Forum 2024 held on November 22, which brings together the main players in the hotel industry.
Molina Maríñez expressed his gratitude for the distinction and reiterated the financial institution's commitment to promoting the development of tourism in the country.
"This initiative will achieve the comprehensive transformation of a significant asset in the Dominican tourism market. We are proud to be part of projects that, like this one, positively impact the country's sustainable tourism, and we reiterate our commitment to continue promoting this important sector of the economy.".
Aguie Lendor, Denis Rosario, David Collado, Ana Judith Alma Iglesias, Luis Molina Mariñez and David Llibre. (EXTERNAL SOURCE).
The recognized financing agreement was the one signed with the Anacaona group for the acquisition, remodeling and rebranding of the Jewel Palm Beach Hotel to Hyatt Vivid Punta Cana, a project that is estimated to begin operations at the end of 2025 and will generate more than 3,000 direct and indirect jobs.
For over two decades, Banco BHD has participated in tourism-related projects, advising on and structuring financing options tailored to its clients' needs. In the last 15 years, it has provided financing to the sector totaling more than US$1 billion.
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