SANTO DOMINGO.-Grupo Piñero, through its hotel division, announced the signing of an agreement with BFI Bank, through which Grupo Piñero's first hotel will open in the destination of Cape Verde.
The official signing took place at the headquarters of BFI Bank in Praia, the capital of Cape Verde. BFI Bank is a Cape Verdean investment project bank with extensive international experience.
Lydia Piñero, president of the consortium's Investment Commission, explained that the new hotel will operate under the Bahia Principe Fantasia Cabo Verde brand, which will have a family vacation concept.
Luis Rodrigues, CEO of BFI Bank, said that Cape Verde is increasingly establishing itself as a leading international tourist destination, with tourism being the main driver of the Cape Verdean economy.
“As a bank that promotes the Cape Verdean economy, BFI Bank could not remain indifferent to this development. BFI Bank is very enthusiastic about this project and trusts in Grupo Piñero’s renowned international experience to explore the best way to achieve its objectives,” the executive explained.
For her part, Encarna Piñero, Global CEO of Grupo Piñero, thanked BFI Bank for its collaboration and trust, noting that this agreement is part of a strategy to evolve the hotel business model, reinforcing the value of the Bahia Principe Hotels & Resorts brand and expanding its portfolio, according to a press release.
Isabel García, Ulisses Correia e Silva, Encarna Piñero and Lydia Piñero. (External source).
"We are looking for agile growth that will take us to new markets like Cape Verde, leveraging local partnerships and resources while maximizing our focus on hotel management and customer experience," he noted.
The event was also attended by Ulisses Correia e Silva, Prime Minister of Cape Verde; Olavo Correia, Deputy Prime Minister and Minister of Finance; Carlos Jorge Duarte Santos, Minister of Tourism and Transport of Cape Verde; José Francisco Braz da Silva, President of BFI Bank; Luis Rodríguez, CEO of BFI Bank; Ana Paredes Prieto, Spanish Ambassador to Cape Verde; among other authorities.
The press release specifies that the hotel will be located in Murdeira, on Sal Island, with a projected investment of 120 million euros, a 5-star category, and a total of 605 rooms.
The hotel is expected to open in 2027 and is projected to create more than 500 direct jobs, and just as many indirect ones, in line with Grupo Piñero's objectives to contribute positively to the local community economy in all the destinations where it operates.
