MADRID, SPAIN – At the FITUR 2025 International Tourism Fair, Banco Popular Dominicano announced the granting of US$71 million to the Advanced Opportunities II Closed-End Development Investment Fund, managed by Advanced Asset Management (AAM), for the purchase and comprehensive renovation of the Playa Hotels & Resort, which will operate under the prestigious international brand Wyndham Alltra, of Wyndham Hotels & Resorts.
Popular Bank, a subsidiary of Grupo Popular that operates from Panama under an international license, is also participating in the financing.
The syndicated loan is granted to AAM's investment fund through the company Inversiones Vilazul, SAS., and will be used to develop 620 rooms and common areas of the hotel, located in Uvero Alto, La Altagracia province, on a 174,877 m² site. A new 7,500 m² water park will also be built.
Impact on employment and communities
This new hotel project, whose construction begins in February 2025, will contribute to the creation of more than 1,200 direct and indirect jobs, as well as supporting Dominican suppliers and developing new infrastructure in the area, which will have a significant impact on local communities.
Furthermore, it will have a direct impact in terms of social and environmental sustainability, as the promoting group will implement quality and sustainability standards in this project that will raise the competitiveness of the hotel offer in the region.
Antonia Antón de Hernández, René Grullón, Christopher Paniagua, David Collado, Manuel Diez, Fernando Cantisano, Carlo Ruiz, Felipe Amador and Álvaro Sousa. (EXTERNAL SOURCE).
This operation was recognized for its positive impact on the sector during the last edition of the ASONAHORES Tourism Investment Forum, in which the financial innovation to make the new hotel infrastructure a reality, which will receive 365,000 guests a year, was highlighted.
Commitment to tourism development
The Senior Executive Vice President of National and International Business at Banco Popular, Mr. René Grullón Finet, speaking at FITUR 2025, stated that “this is a new example that reaffirms our firm commitment to the development of the national tourism sector, contributing resources that allow us to continue diversifying the national tourism offering and strengthening the Dominican Republic as a world-class destination.”.
For his part, Mr. Felipe Amador, CEO of Advanced Asset Management (AAM), indicated that “this opening strengthens the tourism and lodging capacity of the Dominican Republic and reinforces AAM's leadership in the hotel sector by having investments that represent more than 1,000 hotel rooms distributed in different areas of the country.”.
Meanwhile, the Chairman of the Board of Directors of AAM, Mr. Manuel Diez, emphasized “the importance of this type of project with a view to promoting the country's competitiveness as a destination, with an attractive and diverse offering for tourists.”.
