Grupo Piñero Raked in Nearly a Billion Dollars in 2018

Grupo Piñero, parent company of Bahia Principe –all-inclusive resorts in the Caribbean – reported its 2018 financial results at the International Tourism Fair (FITUR) in Madrid, Spain, including posting an income of US$982 million, surpassing the $900 million mark for the second consecutive year.

Bahia Principe Hotels & Resorts, along with the company’s residential and golf offerings, accounted for 70.1 percent of the family-owned business, reporting an income of more than $643 million.

Grupo Piñero invested more than $120 million in this business unit in 2019 in efforts that included opening Bahia Principe’s 25th hotel, Fantasia Bahia Principe Tenerife, completing a renovation of Luxury Bahia Principe Ambar in Punta Cana, and initiatives aimed at improving efficiency and digitally transforming the company.

Source: eturbonews.com